Extracted from this filing and checked against the source text.
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.95
RYAN SPECIALTY HOLDINGS, INC. announced a restructuring with charges of The Empower Program includes (i) Business Platform Optimization and (ii) Compensation and Benefits. These actions are expected to be completed by the end of 202 affecting brokerage, binding, and underwriting operations.
- Type
- restructuring
- Charge
- The Empower Program includes (i) Business Platform Optimization and (ii) Compensation and Benefits. These actions are expected to be completed by the end of 202
- Affected area
- brokerage, binding, and underwriting operations
Exact text from the filing
On February 10, 2026, the board of directors of the Company (the "Board") approved a three-year restructuring program (the "Empower Program"), which will commence in the first quarter of 2026. The Empower Program is designed to streamline the Company's brokerage, binding, and underwriting operations, optimize scale, accelerate data and technology strategies, and enhance efficiencies across all of the Company's specialties. The Empower Program is expected to generate approximately $80 million of annual savings in 2029. The Empower Program includes (i) Business Platform Optimization and (ii) Compensation and Benefits. These actions are expected to be completed by the end of 2028. The Company currently estimates that the Empower Program will result in cumulative pre-tax charges to its GAAP financial results of approximately $160 million which are expected to be recorded as exit and disposal activities and are broken down as follows: Program Activity Charges Business Platform Optimization
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