Chicago-domiciled medical stop loss managing general underwriter (MGU), AccuRisk Holdings LLC, has signed a definitive agreement to be acquired by Ryan Specialty, an international specialty insurance firm.
AccuRisk, founded in 2017, generated approximately $25 million of revenue for the 12 months ended July 31st, 2023.
Terms of the transaction, which is expected to close in December 2023, were not disclosed.
Patrick G. Ryan, Founder, Chairman & CEO of Ryan Specialty, commented: “Dan and the AccuRisk team are proven leaders in the medical stop loss space, having built one of the largest independent medical stop loss MGUs. Moreover, the AccuRisk team shares our vision to develop a comprehensive integrated health solution, providing retail brokers with a ‘one stop shop’ for self-insurance needs.
“Together Ryan Specialty and the AccuRisk professionals will be able to accelerate the rate of innovation in the employee benefits industry.”
Dan Boisvert, President & CEO of AccuRisk, added: “We are excited to be joining the Ryan Specialty team. AccuRisk and Ryan Specialty Benefits have a common mission to transform the Healthcare Finance and Health Insurance markets by providing integrated health solutions to our broker and TPA clients. The acquisition will allow us focus on that vision and to enter the next stage of our corporate growth.
“I would like to thank Ardonagh Global Partners and the Amynta Group for their stewardship and support up to date. Their support allowed us to continue our corporate growth and become one of the largest independent employee benefits MGUs in the country.”
Kevin Eagan, AccuRisk’s Chief Financial Officer, said: “From inception, AccuRisk has remained markedly focused on listening to our clients and developing solutions centered around servicing their needs. This approach has facilitated the deep and meaningful relationships we have today with our valued clients, carriers, vendors, and employees. Partnering with Ryan Specialty further positions AccuRisk for continued long-term success through the size, scale, and financial strength Ryan Specialty is certain to bring to our valued partnerships.”
John Zern, President & CEO of Ryan Specialty Benefits, commented: “AccuRisk adds exceptional talent, unique capabilities, and product depth to our employee benefits practice. AccuRisk’s offerings include medical stop loss underwriting, group captives, supplemental health care management, and occupational accident. AccuRisk’s deep expertise, combined with the breadth of its product offering, gives Ryan Specialty the capabilities to holistically service our retail broker and TPA clients. I look forward to collaborating with Dan as a part of the team to deliver innovative solutions on a nationwide basis.”
Boisvert, concluded, “Since our founding, we have been focused on driving product innovation to enhance both flexibility and efficiency. We are thrilled to be partnering with Ryan Specialty who shares our vision for the future of employee benefits. We are equally excited to have the opportunity to work with Ryan Specialty to further enhance our distribution relationships. We believe that joining Ryan Specialty sets the stage for the next upward inflection point in our growth trajectory.”
