Global specialty insurance broker Ryan Specialty has agreed to acquire certai
n assets of USQRisk Holdin
gs, LLC, a New York-headquartered managing general agency focused on nontrad
itional insurance.
Formed in 2020 and operating in New York and London, USQ has two core busin
ess divisions: Alternative Risk and Facilities. The Alternative Risk specialty underwrites, structures, prices and places specialty insur
ance for corporate clients seeking bespoke, multi-year risk coverages. The Faci
lities specialty creates new products for unique risks in highly dislocated markets.
The acquisition is expected to bring approximately $11 million of incrementa
l operating revenue to Ryan Specialty, according to the anouncement.
USQ will become a part of the alternative risk business within Ryan Specialty.
Anibal Moreno, chief executive officer of USQ, said he believes USQ will be
able to “amplify its breadth and depth at Ryan Specialty.”
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Kieran Dempsey, CEO of Ryan Alternative Risk, said USQ adds breadth and dept
h to Ryan’s growing alternative risk business. He indicated that USQ’s expansion into facilities gave Ryan Specialty the chance to w
ork directly with USQ though its AXSAL Re partnership, which provides excess cov
erage for mid-sized trucking fleets. “We believe USQ to be among the highest-quality
alternative risk specialists in the industry,” Dempsey said.
Terms of the transaction were not disclosed. The acquisition is expecte
d to close during the second quarter of 2025.
TAG Financial Institutions Group, LLC acted as the exclusive financial advisor to USQ.