Ryan Specialty Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:15 pm EDT
Share
Ryan Specialty Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 501.94 million compared to USD 412 million a year ago. Net income was USD 15.7 million compared to USD 29.28 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to basic earnings per share from continuing operations of USD 0.11 a year ago. Diluted loss per share from continuing operations was USD 0.04 compared to diluted earnings per share from continuing operations of USD 0.09 a year ago.
For the nine months, revenue was USD 1,544.69 million compared to USD 1,290.18 million a year ago. Net income was USD 135.98 million compared to USD 117.48 million a year ago. Basic earnings per share from continuing operations was USD 0.34 compared to USD 0.4 a year ago. Diluted earnings per share from continuing operations was USD 0.34 compared to USD 0.37 a year ago.
Ryan Specialty Holdings, Inc. is a service provider of specialty products and solutions for insurance brokers, agents, and carriers. The Company provides distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter with delegated authority from insurance carriers. For retail insurance brokers, it assists in the placement of complex or otherwise hard-to-place risks. For insurance carriers, it works with retail and wholesale insurance brokers to source, onboard, underwrite, and service these same risks. The Companyâs Wholesale Brokerage Specialty operates predominantly under the brand RT Specialty along with others, such as RT ProExec and CERT. Its Binding Authority Specialty operates under the RT Specialty and RT Binding Authority brands. Its Underwriting Management Specialty operates under multiple brands, which are collectively referred to as Ryan Specialty Underwriting Managers.