IPOs

Specialty insurance solutions provider Ryan Specialty Group prices IPO at $23.50 midpoint

Ryan Specialty Group, a wholesale specialty insurance brokerage, raised $1.3 billion by offering 56.9 million shares (63% synthetic secondary) at $23.50, within the range of $22 to $25.

Ryan Specialty Group provides specialty insurance solutions for brokers, agents, and carriers. For retail insurance brokers, it assists in the placement of complex or otherwise hard-to-place risks. For insurance carriers, it works with retail and wholesale insurance brokers to source, onboard, underwrite and service those hard-to-place risks. A significant majority of the premiums Ryan Specialty Group places are bound in the E&S market, which includes Lloyd’s of London. 

Ryan Specialty Group plans to list on the NYSE under the symbol RYAN. J.P. Morgan, Barclays, Goldman Sachs, Wells Fargo Securities, UBS Investment Bank, William Blair, RBC Capital Markets, BMO Capital Markets, and Keefe Bruyette Woods acted as joint bookrunners on the deal.

The article Specialty insurance solutions provider Ryan Specialty Group prices IPO at $23.50 midpoint originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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