Ryan Specialty

Additionally, the recent takeovers of medical stop-loss firms Ace Benefit and Point6 accounted for an aggregate cash consideration of $46.8mn.

The company has yet to see the standard market meaningfully impact rate or flow in the aggregate.

The Inside P&C news team runs you through the earnings results for the day.

The pair will retain their leadership roles for MGUs WKFC, CorRisk and AgRisk.

Onex reduced its position in the wholesaler by almost two-thirds to nearly 3.7% from around 11.3%, while president Tim Turner sold ~700,000 of his nearly 4.9 million shares.

Founded in 1997, Socius provides management, professional and cyber liability and P&C insurance.

Executives were speaking after the broker reported Q4 earnings, in which organic growth accelerated 2.6 points sequentially but slowed 7.2 points year-on-year to 12.9%.

The company also named Jeff Smith as president and CUO of the MGU.

Both executives were serving as presidents of their respective divisions at the brokerage arm.

Singhvi most recently served as the company’s COO after joining the firm in 2018.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

In addition, the wholesale broker disclosed a $7.7mn consideration in the takeover of certain assets of Centurion Liability Insurance Services.