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Ryan Specialty reports revenue growth, announces restructuring - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Ryan Specialty reports revenue growth, announces restructuring by Gavin Souter Timothy W. Turner (left) and Patrick G. Ryan Agents and Brokers , Financial Results , Property Feb 12, 2026 Ryan Specialty Holdings Inc. reported double-digit revenue growth in the fourth quarter of 2025, driven by its underwriting management business, though profits declined. The specialty intermediary said it expects further revenue growth in 2026, despite sharp decreases in property rates. It also announced a restructuring program to improve efficiency and its first share repurchase program since it went public in 2021. Revenue rose to $751.2 million, up 13.2% from the same period in 2024. On an organic basis, which excludes the effects of mergers and acquisitions and foreign exchange fluctuations, revenue grew 6.6%, down from 11% in the prior-year quarter, the company said. Net income for the quarter fell to $31.2 million, down 26.6%. Adjusted earnings before interest, taxes, depreciation, amortization and coronavirus increased to $222.3 million, up 2.9%. Within Ryan Specialty’s business segments, wholesale brokerage revenue rose to $385.7 million, up 2.9%, binding authority revenue increased to $84.0 million, up 12.6%, and underwriting management revenue climbed to $268.3 million, up 34.2%, reflecting continued growth in delegated authority programs. On an earnings call with analysts Thursday, CEO Timothy W. Turner said property pricing weakened significantly late in the quarter. “The fourth quarter was particularly challenging. We saw further decline in property pricing as the quarter progressed. It was most notable in the month of December, particularly on certain large accounts where pricing was down 25% to 35%,” he said. In addition, some admitted insurers returned to the market, particularly on smaller accounts, Mr. Turner said. Similar property price declines could continue in 2026, he added. Liability prices continued to climb, particularly on high-hazard lines, Mr. Turner said. For the full-year 2025, Ryan Specialty reported revenue of $3.05 billion, up 21.3%, with organic growth of 10.1%, compared with 12.8% in 2024. Net income for the year declined to $214.2 million, down 6.9%. The company said it made five acquisitions in 2025, adding more than $125 million in annual revenue. It also announced a $300 million share repurchase program. Addressing this week’s sharp declines in broker share prices tied to artificial intelligence concerns, Executive Chairman Patrick G. Ryan said: “We look at AI as an ally, not as an adversary,” adding that the company expects AI to improve productivity. Ryan Specialty announced a three-year restructuring initiative to increase automation and improve efficiency. The company said the program is expected to generate $80 million in annual savings beginning in 2029 and will result in about $160 million in cumulative one-time charges through 2028. Looking ahead, Ryan Specialty said it expects organic revenue growth in the high single digits in 2026. Related News Trump revokes basis of US climate regulation February 12, 2026 Rockwood offering professional, management liability program February 12, 2026 IMA unit buys Connecticut wholesaler February 12, 2026 Contractors ordered to pay workers fired after raising asbestos concerns February 12, 2026 Liberty Mutual names Matthew Moore president, Global Risk Solutions February 12, 2026 West Virginia bill would provide paid trauma counseling for first responders February 12, 2026 Alliant buys trucking portfolio February 12, 2026 MCR, Toa Re Europe strike three-year quota share deal February 12, 2026 AmTrust expands into Australian legal expenses market February 12, 2026 Facebook-f X-twitter Linkedin-in Business Insurance is a singular, authoritative news and information source for executives focused upon risk management, risk transfer and risk financing. 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