Ryan Specialty has announced a definitive agreement to acquire select assets of USQRisk Holdings, LLC, a move that will further enhance its alternative risk segment.
Founded in 2020, USQRisk operates out of New York and London and specializes in underwriting non-traditional insurance exposures. The firm is structured around two core business units: alternative risk and facilities. The alternative risk division is known for crafting customized, multi-year insurance solutions tailored to corporate clients, while the facilities unit develops insurance offerings for niche and underserved markets. USQRisk maintains strong backing from a number of highly rated insurance carriers.
Although financial details of the transaction remain undisclosed, the deal is expected to close in the second quarter of 2025. Ryan Specialty anticipates the acquisition will generate approximately $11 million in additional operating revenue, based on unaudited figures for the twelve-month period ending December 31, 2024.
USQRisk CEO Anibal Moreno highlighted the strategic benefits of the acquisition, citing expanded distribution opportunities, greater capital support, enhanced operational infrastructure, and a shared commitment to innovation as key drivers behind the decision.
This transaction adds to a robust year of growth for Ryan Specialty. In 2024 alone, the firm completed seven acquisitions, collectively contributing over $265 million in annualized revenue. Major transactions included the purchase of US Assure—a specialist in builder’s risk insurance—for up to $1.48 billion; Innovisk Capital Partners, a London-based firm managing a portfolio of specialty MGUs; and the property and casualty MGUs of Ethos Specialty Insurance.
The company also broadened its footprint in the sports, leisure, and entertainment sectors through the acquisition of select assets from EverSports & Entertainment Insurance.
Continuing this momentum into 2025, Ryan Specialty has acquired Velocity Risk Underwriters, a managing general underwriter with a focus on catastrophe-exposed property insurance.
