Ryan Specialty has established Ryan Alternative Capital Re, Ltd. (RAC Re), a new collateralized reinsurance vehicle designed to provide additional capacity to Ryan Specialty Underwriting Managers’ (RSUM) portfolio of syndicated delegated authority property and casualty insurance business. RSUM is the delegated authority underwriting division within Ryan Specialty.
RAC Re will deliver reinsurance capital on a risk-attaching basis over multiple years, supporting the anticipated growth of RSUM’s delegated platform. The vehicle has secured approximately US$400 million in committed capital from funds managed by Flexpoint Ford and Sixth Street.
Through this structure, RAC Re is expected to provide RSUM with about US$900 million in multi-year premium capacity.
The launch of RAC Re is being executed through a strategic trading relationship with AXIS Capital, which will support the transaction via its Lloyd’s of London syndicate 1686. AXIS’ involvement is intended to facilitate the transaction and bring RSUM’s syndicated portfolio to the London market.
“We believe this sidecar’s unique scope makes it the first of its kind in the re/insurance marketplace," said Miles Wuller (pictured above), CEO of RSUM. "RAC Re is a multi-year, multi-class P&C vehicle that provides capacity for specialty cat and non-cat property and casualty risks across our diverse, largely non-correlated portfolio of MGAs.”
Wuller noted that the vehicle presents an opportunity for RSUM to accelerate solution delivery and respond to future market dislocation.
Ryan Specialty has also expanded its underwriting operations with the launch of a new practice group, Ryan Specialty National Programs, in March. This group focuses on specialty, class-specific package business on both an admitted and non-admitted basis, and is led by CEO Shawn Yingling, who joined the firm in 2024 with over three decades of experience in program development and executive leadership.
In February, RSUM further expanded its offerings with the launch of Celerity Risk, a new business unit formed from the acquisition of Innovisk Capital Partners. Celerity Risk combines CorRisk Solutions and Celerity Pro to create a comprehensive platform for financial professional liability and cyber insurance, targeting small and middle-market accounts and providing brokers with technology-driven solutions.
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