Ryan Specialty Holdings (RYAN) said late Monday that it signed a definitive agreement to acquire certain assets of USQRisk Holdings LLC, which will make USQRisk a part of the alternative risk business within Ryan Specialty.

Operating in New York and London, USQRisk underwrites nontraditional insurance risks. Based on the unaudited figures for the 12 months ended Dec. 31, 2024, the acquisition will bring roughly $11 million of incremental operating revenue to Ryan Specialty, the company said.

Terms of the deal, expected to close in the second quarter, were not disclosed.