By Isha Marathe

April 21 - (The Insurer) - Ryan Specialty has signed a definitive agreement to acquire certain assets of USQRisk Holdings, an alternative risk and facilities underwriter, with the acquisition expected to close in the second quarter of 2025.

The financial terms of the deal were not disclosed. The acquisition brings approximately $11 million of incremental operating revenue to Ryan Specialty, based on the 12 months ended December 31, 2024. This figure has not been audited.

USQ will become part of the alternative risk business within Ryan Specialty. The MGA was founded in 2020 by a management team operating in New York and London.

USQ's alternative risk specialty underwrites, structures, prices and places specialty insurance for corporate clients seeking bespoke, multiyear risk solutions, while its facilities specialty creates new products for unique risks in highly dislocated markets.

"USQ adds tremendous breadth and depth to our growing alternative risk business. USQ is known for their innovation across a wide variety of structured solutions, including liability, property, and auto," said Kieran Dempsey, CEO of Ryan Alternative Risk.

"USQ’s expansion into facilities has given Ryan Specialty the chance to work directly with USQ though our Axa XL Re partnership, which provides excess coverage for mid-sized trucking fleets."

Anibal Moreno, CEO of USQ, said that Ryan Specialty will give access to preferred trading status with the world’s largest brokers and broad-based capital support from the industry’s top insurance markets.

TAG Financial Institutions Group acted as the exclusive financial advisor to USQ.