Ryan Specialty Acquires Castel Underwriting Agencies

December 21, 2023

Ryan Specialty (NYSE: RYAN) has signed a definitive agreement to acquire Castel Underwriting Agencies Limited from Arch Financial Holdings (UK) Limited and minority shareholders. Castel is a London-headquartered managing general underwriter (MGA) platform comprising 13 MGUs and generating roughly £35 million of operating revenue; the deal is expected to close in the first half of 2024 subject to regulatory approvals and customary conditions.

Buyers
Ryan Specialty
Targets
Castel Underwriting Agencies Limited
Sellers
Arch Financial Holdings (UK) Limited, Minority shareholders
Industry
Insurance
Location
United Kingdom
Transaction Type
Buyout

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