Ryan Specialty

Total revenues at the Chicago-based wholesale broker increased 16.7% to $412mn from Q3 last year, driven by the expansion of the E&S market, organic growth and M&A.

The new executive will support the company’s underwriting practices, launching new program opportunities, and reinforcing efficient operational activities.

The executive worked for JP Morgan after various stints in the insurance industry with State Farm and Allstate.

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The Ryan Specialty CEO said that loose wordings were contributing to the surging size of claims

The company also announced it was rebranding Interstate Insurance Management to Ryan Specialty Transportation Underwriting Managers.

Ryan Specialty president Tim Turner said that the overall flow of submissions into the excess channel “continues to grow at a record pace” with no signs of slowing down.

The program provides up to $15mn in capacity per account and is underwritten by Ryan Specialty-owned MGU EmergIn Risk.

Evans has more than 10 years of experience with NSP.

The company announced three promotions to senior leadership roles, including Eric Quinn and Chris Taggart to senior vice president.

The executive added that the second quarter saw a larger movement of business into E&S due to the challenging reinsurance renewal cycle for the admitted market.

The intermediary raised its forecasted range for organic for the full year to 16.5% to 18%.