Ryan Specialty Completes Acquisition of Castel Underwriting Agencies

CHICAGO--(BUSINESS WIRE)--Ryan Specialty (NYSE: RYAN), a leading international specialty insurance firm, is pleased to announce that it has completed the acquisition of Castel Underwriting Agencies Limited (“Castel”), a Managing General Underwriting (MGU) platform, from Arch Financial Holdings (UK) Limited and minority shareholders. Castel is headquartered in London, England with additional offices in the Netherlands, Belgium and Singapore. The previous announcement dated December 21, 2023 regarding the signing of the definitive agreement can be found here.

Commenting on the acquisition of Castel, Miles Wuller, President and CEO of Ryan Specialty Underwriting Managers, remarked, “We are excited to have the exceptional underwriting talent and executive leadership at Castel join the Ryan Specialty family. Castel brings new products and facilities that expand our offerings to our clients and trading partners. Effective immediately, we are pleased to announce the enhanced leadership team for Ryan Specialty Underwriting Managers International:

Mark Birrell, Chairman and CEO (most recently CEO of Castel)

Carin Verhagen, General Counsel (in addition to her responsibilities as General Counsel at Ryan Specialty International)

Roland Hill, Chief Operating Officer (most recently CFO of Castel)

This leadership team will help accelerate our de novo formations within this region. We are very much looking forward to working with this incredible team.”

Mark Birrell can be reached at [e-mail].

About Ryan Specialty

Founded in 2010, Ryan Specialty is a service provider of specialty products and solutions for insurance brokers, agents and carriers. Ryan Specialty provides distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter with delegated authority from insurance carriers. Ryan Specialty’s mission is to provide industry-leading innovative specialty insurance solutions for insurance brokers, agents and carriers. ryanspecialty.com