Ryan Specialty Holdings, Inc., an international specialty insurer, has announced that its Board of Directors has unanimously approved a leadership succession plan to be implemented on October 1st, 2024.
Under this plan, Patrick G. Ryan, the Founder, Chairman, and Chief Executive Officer (CEO), will transition to the role of Executive Chairman, and Timothy W. Turner, President of Ryan Specialty and Chairman and CEO of Ryan Turner Specialty, will become CEO of the company.
Additionally, Jeremiah R. Bickham, Chief Financial Officer (CFO), has been named as President of Ryan Specialty, and Janice M. Hamilton, the current Chief Accounting Officer, will take over as CFO of the specialty insurer.
Every member of the leadership team has extensive experience in the insurance industry and at Ryan Specialty.
Ryan founded and established Aon Corporation as a global insurance and human capital consulting firm, before forming Ryan Specialty in 2010. He has overseen nearly 15 years of solid performance, with Ryan Specialty now established as
a prominent wholesale brokerage and underwriting management in the expanding specialty insurance space.
Incoming CEO Turner has more than 37 years of industry experience, joining the insurer in 2010, creating and developing RT Specialty into one of the top wholesale distributors of specialty insurance solutions in the country.
Prior to joining Ryan Specialty, Turner was the President of CRC Insurance Services, Inc.. He joined the Crump Group in 1990 as a casualty broker and was named President of the Chicago office. Turner began his insurance career as a casualty broker with A.J. Renner & Associates in 1987.
Bickham has extensive financial and operational expertise and has served in roles with increasing responsibilities since joining in 2011 and was instrumental in the creation of Ryan Specialty’s Treasury department. He has served as CFO at Ryan Specialty since 2021. Before this, he was Treasurer of Ryan Specialty for nearly six years and was also head of Corporate Development.
He has been involved in the firm’s merger and acquisition activity since 2011 and led that function from 2018 through 2021. Prior to joining Ryan Specialty, Bickham worked at KPMG as a research analyst in their Department of Professional Practice in New York City, and later worked for the audit practice in Dallas, Texas.
Hamilton has more than 20 years of experience in both the U.S. and international insurance markets and previously served as CFO for AmTrust International. She has been with Ryan Specialty for over six years, serving as both Chief Accounting Officer and formerly as Controller.
She previously held positions as CFO of ANV and as Controller and then Finance Director for Jubilee Group Holdings, a previous subsidiary of Ryan Specialty. Hamilton began her career with EY in Chicago, providing audit services to insurance sector companies like Aon.
Ryan commented, “Over the last several years, we have achieved remarkable financial and operational success and taken significant action to position Ryan Specialty for sustainable and profitable growth. With clear positive momentum underway and a deep roster of proven leaders, now is the right time to implement this carefully planned leadership succession. Tim joined me at Ryan Specialty at its founding in 2010 and has been an invaluable and integral partner in our success to date, marked by our ambitious M&A strategy, commitment to constant innovation, and ongoing investment in talent. The Board and I believe he is the right leader to guide Ryan Specialty in its next chapter and expect this will be a seamless transition.
“Tim, Jeremiah, and Janice are all exceptional leaders with significant industry expertise, and their appointments reflect the depth of talent we have deliberately built at Ryan Specialty. When I assume the role of Executive Chairman, I look forward to continuing as an active member of the Company’s executive team, working alongside the Board and our strong leadership to build on our track record of outstanding service to clients and trading partners and to generate additional value for shareholders.”
D. Cameron Findlay, Lead Director of the Board, said, “We are delighted to have Tim serve as Ryan Specialty’s next CEO. He is an insurance industry veteran who has been integral to the formation and development of Ryan Specialty, building and growing our business into a market leader. Attracting and developing top talent has been central to Pat’s vision for the Company and our long-term success. Today’s announcement reflects the world-class team of executives we have assembled under Pat’s leadership, as well as the Board’s considered and comprehensive approach to succession planning. We have deep confidence in these leaders and our path forward.”
Turner stated, “I am honored to serve as Ryan Specialty’s next CEO and lead our talented team in delivering value for our clients, trading partners, and ultimately our shareholders. Pat is a pioneer in the insurance industry, and it has been a privilege to work alongside him and learn from his leadership.
“Pat’s commitment to innovation, execution, and providing exceptional outcomes for clients and trading partners is second to none. Under his leadership, Ryan Specialty has grown into an extraordinary company with a dynamic and differentiated business model. I am excited to continue to partner with Pat, our leadership team, and all our employees as we continue to execute on the strategy we have built and drive continued growth for years to come.”
