Ryan Specialty Completes Acquisition of Certain Assets of EverSports & Entertainment Insurance
Ryan Specialty (NYSE:RYAN), a leading international specialty insurance firm, is pleased to announce that today it has completed the acquisition of certain assets of EverSports & Entertainment Insurance, Inc. ("EverSports") from the Everest Group, Ltd. (NYSE:EG) group of companies. EverSports is a managing general underwriter focused on sports, leisure and entertainment ("SLE") risks and is based in Carmel, Indiana.
Founded in 2013, EverSports is a leader in the SLE insurance industry with broad diversification across the various SLE sub-classes (amusement facilities, amateur sports, touring artists, etc.). The relevant business will join Alive Risk, Ryan Specialty's existing SLE facility, enhancing both firms' product offerings and access to distribution.
Miles Wuller, President and CEO of Ryan Specialty Underwriting Managers, remarked, "We're very excited to welcome this team to the Ryan Specialty family. David Nikolai and the members of the EverSports team are well known and respected in the SLE sector, and we see a tremendous cultural fit with Alive Risk. We look forward to bringing these great brands and product capabilities together to further serve our trading partners."
Commenting on the acquisition, David Nikolai, President of EverSports, said, "My teammates and I are looking forward to joining Ryan Specialty and Alive Risk. As a part of Ryan Specialty's proven managed underwriting platform, we will be able to enhance our product set and amplify our growth. Our cultures and way of doing business align as both of our teams are dedicated to exceptional client service and profitable underwriting."
Patrick Gavin, Managing Director of Alive Risk, welcomed the team, "We are thrilled to join forces with a talented underwriting team that shares our culture, attitude, and drive to be the best in class for our industry. Our teams coming together as one will make the SLE future very bright at Ryan Specialty."
Terms of the transaction were not disclosed.
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. For more information, please visit ryanspecialty.com.
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