Ryan Specialty Group (RYAN) 46th Annual William Blair Growth Stock Conference summary

Market position and platform

• Operates the largest delegated underwriting authority platform and is the second largest wholesale broker globally, serving over 35,000 retail brokers and 700+ carrier relationships.

• Placed $32 billion in premium last year, with a diversified and resilient business model supported by proprietary data and deep trading relationships.

• Structural tailwinds in the E&S market have driven its share of U.S. commercial insurance from 7% to 26% over 25 years.

• Maintains strong recurring revenue and high client retention, making the business model difficult to replicate.

Talent and innovation

• Attracts and retains top industry talent, with over 2,000 brokers and underwriters and a 96% producer retention rate.

• Invested in training and development, including a large 2025 hiring class and the Ryan University program.

• Innovation engine drives new product launches, niche market expansion, and rapid speed to market.

• AI and digital strategies accelerate broker development, submission processing, and data-driven insights.

Delegated authority and underwriting

• Largest and most diversified MGU platform, with disciplined capital stewardship and proactive risk management.

• 97% of capital comes from A or higher-rated carriers; has exited or curtailed underperforming lines to maintain quality.

• Governance and central underwriting teams leverage advanced data science and AI for risk selection and speed.

• Attracted substantial new capital during hard markets and continues to expand into reinsurance, benefits, and alternative risk.