Ryan Specialty Holdings, Inc. (RYAN), a prominent Illinois-based specialty insurance services provider, announced on Monday the successful acquisition of Velocity Risk Underwriters, LLC. This transaction sees Velocity, based in Nashville, Tennessee, becoming part of Ryan Specialty's Underwriting Managers division. Previously managed by funds under Oaktree Capital Management, L.P., Velocity is recognized for its expertise as a managing general underwriter specializing in first-party insurance for properties vulnerable to catastrophic events. The initial announcement of this acquisition was made on January 7, 2025.
On Monday, RYAN shares closed at $67.45, reflecting a 1.31% increase. Post-market trading saw further enthusiasm, pushing the price up to $68.97, marking a 2.25% rise, on the New York Stock Exchange.
