Ryan Specialty has signed a definitive agreement to acquire Chicago-based medical stop loss managing general underwriter (MGU), AccuRisk Holdings, LLC.
Terms of the transaction were not disclosed, and the acquisition is expected to close in December 2023.
AccuRisk’s services include medical stop loss underwriting, group captives, supplemental health care management and occupational accident.
“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,” said Patrick Ryan, Founder, Chairman & CEO of Ryan Specialty.
“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.”
In March, Captive Intelligence published an article detailing that the number of captives writing medical stop loss (MSL) continues to increase substantially, primarily as a result of hard market conditions in the commercial market.
MSL captives are on course to account for more than 25% of the overall MSL insurance market in the United States over the next few years.
“Since our founding, we have been focused on driving product innovation to enhance both flexibility and efficiency,” said Dan Boisvert, President & CEO of AccuRisk.
“We believe that joining Ryan Specialty sets the stage for the next upward inflection point in our growth trajectory.”