What's Happening?
Ryan Specialty has introduced a new collateralized reinsurance vehicle, Ryan Alternative Capital Re, Ltd. (RAC Re), to support its delegated underwriting operations. This sidecar aims to provide additional capacity for Ryan Specialty Underwriting Managers' portfolio, focusing on specialty property and casualty risks. RAC Re has secured $400 million in committed capital and is expected to offer $900 million in multi-year premium capacity. The initiative is supported by Axis Capital and aims to enhance Ryan Specialty's ability to respond to market changes.
Why It's Important?
The launch of RAC Re represents a strategic move by Ryan Specialty to bolster its underwriting capacity and expand its market reach. By securing significant capital and partnering with Axis Capital, the company is well-positioned to address the growing demand for specialty insurance solutions. This development could lead to increased market share and profitability for Ryan Specialty, as well as enhanced service offerings for its clients.
