Ryan Specialty to Implement Management Succession Plan

The Ryan Specialty Holdings Board of Directors has approved a management succession plan to be implemented on October 1, 2024. Under the plan, Patrick G. Ryan, founder, chairman and chief executive officer, will transition to executive chairman and Timothy Turner, chairman of Ryan Specialty and president and chief executive officer of Ryan Turner Specialty (RT Specialty), will become chief executive officer.

The succession plan also includes the appointment of Jeremiah Bickham, chief financial officer, as president and Janice Hamilton, chief accounting officer, as chief financial officer.

Each of the following members of the firm’s leadership team has extensive experience in the insurance industry and at Ryan Specialty:

• Turner has more than 37 years of leadership, expertise and service experience in the insurance industry. He joined Ryan Specialty in 2010, building and growing RT Specialty into one of the nation’s premier wholesale distributors of specialty insurance solutions. He will also continue to serve on the company’s board of directors.

• Bickham has extensive experience in finance and operations, having held various positions since joining the company in 2011, including treasurer and head of corporate development.

• Hamilton has over 20 years of experience in the U.S. and international insurance industry, and previously served as CFO of AmTrust International. She has been with Ryan Specialty for over six years, serving as chief financial officer and previously controller.

• After founding and establishing Aon Corporation as a global leader in human capital insurance and consulting, Ryan founded Ryan Specialty in 2010 on the thesis that the specialty insurance market would become more significant as the world continued to increase in complexity and risk. Since then, Ryan has overseen nearly 15 years of performance, and Ryan Specialty is now an industry leader in wholesale brokerage and underwriting management in the emerging specialty insurance space.

“Over the past several years, we have achieved extraordinary financial and operational success and have taken significant steps to position Ryan Specialty for sustainable and profitable growth,” said Ryan. “With clear positive momentum and a strong roster of proven leaders, now is the right time to implement this carefully planned leadership succession. Tim joined me at Ryan Specialty when we founded it in 2010 and has been an invaluable and integral partner in our success to date, characterized by our ambitious M&A strategy, commitment to ongoing innovation and continued investment in talent. The Board and I believe he is the right leader to lead Ryan Specialty into its next chapter, and we expect it to be a seamless transition.”

Ryan continued, “Tim, Jeremiah and Janice are exceptional leaders with deep industry experience, and their appointments reflect the depth of talent we have purposefully built at Ryan Specialty. As I assume the role of Executive Chairman, I look forward to continuing to serve as an active member of the company’s executive team, working with the Board and our strong leadership to build on our history of exceptional service to our customers and channel partners and to drive additional value for shareholders.”

“We are thrilled that Tim will serve as the new CEO of Ryan Specialty. He is an insurance industry veteran who has played a key role in the founding and growth of Ryan Specialty, building and growing our business into a market leader,” said D. Cameron Findlay, CEO. “Attracting and developing top talent was critical to Pat’s vision for the company and our long-term success. Today’s announcement reflects the world-class executive team we have assembled under Pat’s leadership, as well as the board’s thoughtful and comprehensive approach to succession planning. We have great confidence in these leaders and our path forward.”

“I am honored to serve as the next CEO of Ryan Specialty and lead our talented team in delivering value to our customers, channel partners and ultimately our shareholders,” said Turner. “Pat is a pioneer in the insurance industry and it has been an honor to work with him and learn from his leadership. Pat’s commitment to innovation, execution and delivering exceptional results for customers and channel partners is unmatched. Under his leadership, Ryan Specialty has grown into an extraordinary company with a dynamic and diverse business model. I am excited to continue working with Pat, our leadership team and all of our employees as we continue to execute on the strategy we have established and drive continued growth for years to come.”

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