Ryan Specialty, a global specialist insurance coverage firm, has concluded a deal to purchase Velocity Danger Underwriters from funds managed by Oaktree Capital Administration.
Velocity is a managing basic underwriter that gives first-party insurance coverage protection for properties susceptible to catastrophes.
The Nashville, Tennessee, US-headquartered firm will be a part of the Ryan Specialty Underwriting Managers division inside Ryan Specialty.
The acquisition was first introduced on 7 January 2025.
Established in 2015, Velocity specialises in US property disaster dangers, providing protection that’s typically troublesome to acquire for perils corresponding to named storms, earthquakes, tornadoes and hail.
The corporate primarily focuses on serving middle-market and small to medium-sized business companies.
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Velocity has a nationwide presence, with a notably sturdy foothold in Florida, Texas and the south-eastern US.
As a part of the deal, Velocity Specialty Insurance coverage Firm, a unit of Velocity, was acquired by FM.
FM is a mutual insurance coverage firm that focuses on business property, serving many massive organisations worldwide, together with one in each 4 Fortune 500 firms.
Arrange in 2010, Ryan Specialty provides specialised merchandise and options for insurance coverage brokers, brokers and carriers.
The corporate gives distribution, underwriting, product improvement, administration and danger administration providers, performing as each a wholesale dealer and a managing underwriter with delegated authority from insurance coverage carriers.
