Press Releases

On January 7th, 2025, Ryan Specialty (“Ryan”) announced it signed definitive agreements to acquire Velocity Risk Underwriters, LLC (“VRU”). VRU is a leading managing general underwriter, founded in 2015 and based in Nashville, TN, that provides first-party insurance coverage for catastrophe exposed properties (named storm, earthquake, and tornado and hail). Ryan has an implied market capitalization of ~$16.2bn (as of January 6th, 2025) and acts as a wholesale broker and a managing underwriter with delegated authority from carriers. VRU is to be acquired by Ryan for an upfront cash consideration of $525m.

On December 30, 2024, Maiden Holdings, Ltd. (“Maiden”), a Bermuda-based leader specializing in legacy services and finality solutions for the insurance and financial services industries, announced the combination with Kestrel Group LLC (“Kestrel”), a Dallas and Austin, TX, based strategic entity created to service program managers, MGAs, reinsurers and reinsurance brokers.

On December 12th, 2024, ATRI Insurance Services, LLC (“ATRI”), an MGA specializing in management and professional liability programs, completed the sale of its business to Platinum Specialty Underwriters, LLC.

On October 30, 2024, Ryan Specialty, a leading international specialty insurance services firm, announced the intent to acquire Innovisk Capital Partners, an international organization with a diverse, non-correlated portfolio of seven highly regarded specialty MGUs.

On October 8, 2024, Ambac Financial Group, Inc. (NYSE: AMBC) (“Ambac”) announced it has partnered with Mike Miller and his team on the launch of Pivix Specialty Insurance Services, Inc. (“Pivix”). Pivix is a managing general agency focusing on the excess and surplus (“E&S”) lines market. Ambac is an insurance holding company that is a growing specialty P&C distribution and underwriting platform.

On July 29, 2024, ISO Student Health Insurance (“ISO”), a leading provider of international student health insurance, announced the sale of its business to NSM Insurance Group, a global specialty insurance provider.

On April 18, 2024, Applied Underwriters, Inc. (“Applied Underwriters”) announced the strategic sale of Centauri Specialty Insurance Holdings, Inc. (“Centauri”) to Lilypad Insurance Holdings Inc. (“Lilypad”). Centauri is a property and casualty insurance company licensed to serve policyholders in 10 states. Lilypad is a newly formed coastal risk specialty insurer and subsidiary of Arbol Inc., a global climate risk solutions provider.

On April 9, 2024, GeoVera Insurance Holdings, Ltd. (“GeoVera”), a leading provider of specialty property insurance focused on catastrophe-exposed properties in the earthquake and wind markets, announced the sale of its insurance carriers and MGA.