International specialty insurance firm Ryan Specialty has signed definitive agreements to acquire certain assets of ACE Benefit Partners, Inc., a medical stop loss general agent, and Point6 Healthcare, LLC, a distributor of medical stop loss insurance, pharmacy solutions, and complex claims management on behalf of retail brokers and third party administrators.
Pat Ryan, Founder, Chairman & CEO of Ryan Specialty commented, “The ACE team has proven to be true experts in the field of medical stop loss insurance, a foundational benefits solution with ever increasing relevance as employers seek the twin goals of flexibility and cost efficiency.
“We’re excited to partner with ACE to assist retail brokers and TPAs in crafting optimal insurance structures on behalf of their clients.”
Ryan continued, “Point6 and their talented team will provide foundational benefits capabilities to Ryan Specialty
“With this cornerstone competence and expertise, Ryan Specialty will make it possible for retail brokers and third party administrators to access leading healthcare solutions on behalf of their clients.”
John Zern, President & CEO of Ryan Specialty Benefits, added, “ACE brings exceptional talent to Ryan Specialty Benefits. Jason, Terry and Angi each have decades of experience working with retail brokers on the intricacies of medical stop loss insurance.
“They have built a product set and capabilities that have attracted an outstanding roster of clients and markets. We look forward to working with ACE in establishing a nationwide presence in medical stop loss distribution.”
Commenting on the acquisition of Point6, Zern said, “Point6 has built a solution set that is mission-critical for retail brokers and third-party administrators seeking to help their clients in ‘bending the cost curve’.
“Point6 addresses fundamental pain points for self-funded employers: financial certainty, drug pricing, and complex claims. I am excited to work with Jeff Miller and the Point6 team as we seek to accelerate and extend Point6’s remarkable growth trajectory.”
Jeff Miller, CEO of Point6, remarked, “Since our founding in 2018, Point6 has been focused on developing innovative solutions to address rapidly escalating healthcare costs.
“We have seen great adoption of these solutions and now is the right time to expand our distribution strategy and solution innovation by partnering with Ryan Specialty. This is an incredible opportunity for the key stakeholders we serve and our employees.”
The principals of ACE, Jason Lankford, Terry Madge, and Angela Maggi, collectively said, “We are completely aligned with Ryan Specialty’s mission to deliver innovative solutions to the retail broker community.
“By partnering with Ryan Specialty, we see a tremendous opportunity to expand the breadth and depth of our relationships with these key stakeholders. The culture of Ryan Specialty embraces empowerment, teamwork and integrity, all of which are core values of ACE. We are looking forward to being a part of this exceptional firm.”
Terms of the transactions were not disclosed, though both acquisitions are expected to close in July 2023.