**Ryan Specialty Reports Increased Revenue and Strategic Growth in 2025**
Ryan Specialty, an international specialty insurance intermediary, reported a net commission and fee revenue of $2.99 billion for the year ended December 31, 2025, compared to $2.46 billion in 2024, representing a 21.9% increase. The company's total revenue for 2025 reached $3.05 billion, up from $2.52 billion in the previous year, reflecting a 21.3% growth. This growth was attributed to a combination of organic expansion, strategic acquisitions, and favorable market conditions within the excess and surplus (E&S) lines market. Diluted earnings per share were $0.47 in 2025, compared to $0.71 in 2024, while adjusted diluted earnings per share increased to $1.96 from $1.79 in the prior year.
The company experienced growth across its three specialties: Wholesale Brokerage, Binding Authority, and Underwriting Management. Wholesale Brokerage net commissions and fees increased to $1.60 billion, a 7.5% rise from 2024. Binding Authority saw a 15.5% increase, reaching $370.2 million, while Underwriting Management experienced substantial growth of 58.5%, generating $1.02 billion in net commissions and fees. The company's producer retention rate remained high at 96%, indicating stability and satisfaction among its revenue-generating professionals.
Ryan Specialty continued its strategic expansion through acquisitions, partnering with five firms in 2025. These included Velocity Risk Underwriters, USQRisk Holdings, 360° Underwriting, certain assets of J.M. Wilson Corporation, and Stewart Specialty Risk Underwriting Ltd. These acquisitions are expected to enhance the company's human capital, product capabilities, and geographic footprint. The company also rolled out a proprietary version of ChatGPT for its employees and commenced implementation of an enhanced workbench for its underwriters, demonstrating its commitment to leveraging technology to drive productivity and efficiency.
Looking ahead, Ryan Specialty aims to continue its growth trajectory by attracting and retaining industry-leading talent, broadening its product offerings, and deepening its relationships with retail broker trading partners. The company is also focused on building the most comprehensive international delegated authority business and investing in operations to support future expansion. The company has identified several markets, products, and services as near-term potential growth opportunities, including alternative risk and capital management offerings, employee benefits, nursing homes and other long-term care facilities, and transportation.
About RYAN SPECIALTY HOLDINGS, INC.
Ryan Specialty is an international specialty insurance service firm providing wholesale brokerage, delegated underwriting, product development, and risk management services. It serves insurance brokers, agents, and carriers across diverse markets, primarily in the E&S segment. The company offers tailored insurance solutions for complex risks, leveraging deep industry relationships, innovative technology, and a broad product portfolio to drive growth and market leadership.
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