Ryan Specialty to acquire US Assure for ~$1.075B plus up to $400M earnout

RYAN SPECIALTY HOLDINGS, INC.

Acquisition of US Assure for $1.075B in cash plus up to $400M earnout based on 3-year performance targets.
Expected to close Q3 2024; US Assure will become part of Ryan Specialty Underwriting Managers.
Financing includes $500M bridge loan and revolver upsized from $600M to $1.4B.
US Assure is a builder's risk program with 20,000+ active agents and proprietary technology platform.
Zurich American remains the carrier providing same program capacity and underwriting guidelines.

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