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Ryan Specialty Launches New Sidecar to Support its Delegated Underwriting

Article 0 Comments International specialty insurer Ryan Specialty announced the formation of a new collateralized reinsurance vehicle called Ryan Alternative Capital Re, Ltd. (RAC Re) RAC Re will deliver additional capacity to Ryan Specialty Underwriting Managers’ portfolio of syndicated delegated authority P/C insurance business. RSUM is the delegated authority underwriting division within Ryan Specialty. “We believe this sidecar’s unique scope makes it the first of its kind in the reinsurance marketplace,” said Miles Wuller, CEO of RSUM, in a statement. “RAC Re is a multi-year, multi-class P/C vehicle that provides capacity for specialty cat and non-cat property and casualty risks across our diverse, largely non-correlated portfolio of MGAs.” This flagship sidecar will provide reinsurance capital on a risk-attaching basis over a multi-year period to further support the potential growth of RSUM’s delegated platform. RAC Re raised approximately $400 million in committed capital from funds managed by Flexpoint Ford and Sixth Street. RAC Re will provide RSUM with an anticipated $900 million in multi-year premium capacity and has been launched through a trading relationship with global specialty reinsurer Axis Capital. Axis will support the transaction via its Lloyd’s of London syndicate 1686. “This vehicle marks a significant opportunity for RSUM to...

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Smith to Replace Retiring Gunn as Deputy Commissioner at ALDOI

Article 0 Comments Smith The Alabama Department of Insurance has promoted Dusty Smith to the role of deputy commissioner, replacing Jimmy Gunn, who is retiring after 36 years at the department. Smith, a former insurance agent, joined the department in 2011 and has served as consumer services division manager since 2019. Starting next year, he will take over for Gunn and will oversee five divisions: rates and forms, consumer services, actuarial services, producer licensing and the new pharmacy benefits compliance section. Gunn will step down at the end of January 2026, DOI said in a bulletin. He led the producer licensing division for 20 years before being promoted to deputy commissioner in 2020. Gunn Gunn previously worked as a rate analyst and, before that, he worked with Southern Guaranty Insurance and Safeco Insurance. Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found this article valuable. Please tell us what you liked about it. Submit No Thanks Here are more articles you may enjoy. The most important insurance news,in your inbox every business day. Get the insurance industry’s trusted newsletter

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People Moves: Alliant Human Capital Names Muller as Vice President

Article 0 Comments Alliant Human Capital, a division of Alliant Insurance Services, announced the appointment of Brian Muller as Vice President. Muller brings more than 15 years of experience in both corporate and consulting HR, with a proven track record of delivering innovative solutions that help organizations succeed in today’s evolving workplace. Muller, who is based in Columbus, Ohio, has led strategic initiatives across industries, including retail, higher education, and the nonprofit sector. His expertise spans compensation strategy, design, and analytics, with a focus on global compensation and HR operations, pay equity analysis, organizational strategy and assessment, executive and sales compensation, performance and talent management, and the design of both short- and long-term incentive programs. Before joining Alliant Human Capital in 2025, Muller began his career in the retail industry and later held consulting roles with several of the nation’s largest insurance brokerage and consulting firms. This blend of corporate and consulting experience gives him a unique perspective on aligning people strategies with business goals. Topics Alliant Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found this article valuable. Please tell us what...

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6 Stats Showing Private Equity’s Accelerating Control of RIAs

/ ThinkAdvisor provides financial advisors, registered investment advisors and wealth managers with comprehensive coverage of the products, services and information they need to guide their clients in making critical wealth, health and life decisions.

Canadian Government & ICLR launch disaster recovery and resilience centre of excellence 0

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Canadian Government & ICLR launch disaster recovery and resilience centre of excellence

Ottawa, ON (Sept. 3, 2025) – Recent disasters such as the Lytton wildfire in 2021, Hurricane Fiona in 2022, the wildfires in the Northwest Territories in 2023, and the intense wildfire seasons of 2024 and 2025 have highlighted how challenging recovery can be. Planning for recovery early, ideally before a disaster even happens, can make a big difference. It helps communities rebuild faster, get businesses back up and running sooner, and include measures to reduce future risk during reconstruction. The Honourable Eleanor Olszewski, Minister of Emergency Management and Community Resilience and Minister responsible for Prairies Economic Development Canada, and Paul Kovacs, Founder and Executive Director of the Institute for Catastrophic Loss Reduction (ICLR), are pleased to announce the launch of the Canadian Centre for Recovery and Resilience at ICLR’s Disaster Resilience Display Centre in Toronto. By leveraging their complementary expertise in disaster recovery, risk reduction, and resilience, Public Safety Canada and ICLR will work together through the Canadian Centre for Recovery and Resilience to help communities plan for recovery so they can recover more quickly and rebuild in ways that make them safer and more resilient in the future. It offers: Dedicated experts to help communities plan for recovery, overcome...

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River Valley Underwriters Acquires Texas’ Patriot National Underwriters

Article 0 Comments River Valley Underwriters, Inc has announced that it will be acquiring the book of business from Patriot National Underwriters, Inc, as well as the current employees. The parties expect to complete the transaction effective September 1, 2025. RVU is a family owned Multi-Line MGA based out of Little Rock, Arkansas, specializing in transactional binding authority business as well as wholesale brokerage. RVU will add its carriers and products to the expertise of the current Patriot National staff to continue to deliver the exceptional service that retail agents have come to expect from both parties. Topics Mergers & Acquisitions Texas Underwriting Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found this article valuable. Please tell us what you liked about it. Submit No Thanks Here are more articles you may enjoy. Interested in Mergers? Get automatic alerts for this topic.

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Man Pleads Guilty to Conspiring in Illinois Underground Mine Fire Fraud

Article 0 Comments A Kentucky man entered a guilty plea to conspiring to defraud the U.S. Mine Safety and Health Administration (MSHA) in relation to an underground fire that occurred in the MC#1 Mine in Franklin County, Illinois, in August 2021. According to court documents, on Aug. 12, 2021, Timothy Parsons, 38, Louisa, Kentucky, was the Mine Manager at the MC#1 Mine when an underground fire was ignited by a cutting torch used to cut collapsed steel beams. When the fire could not be extinguished within 10 minutes, rather than implementing the approved Mine Emergency Evacuation and Firefighting Plan, Parsons and conspirators agreed that they would not evacuate miners or notify MSHA. Gas detectors carried by miners alarmed for the presence of more than 10 parts per million of carbon monoxide, yet the mine continued to mine coal during ad hoc firefighting efforts over the course of three shifts from Aug. 12 to 13. On Aug. 13, Parsons tried to conceal the existence of the fire from those not already aware of it by evacuating the mine on the false pretense that a belt used to carry coal from underground to the surface was broken. Later that morning, MSHA received...

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When You Hear ‘I Already Have a Broker’

/ ThinkAdvisor provides financial advisors, registered investment advisors and wealth managers with comprehensive coverage of the products, services and information they need to guide their clients in making critical wealth, health and life decisions.

Kayna and Willis team up to provide Markel bloodstock solution to vSaaS platform Equine MediRecord 0

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Kayna and Willis team up to provide Markel bloodstock solution to vSaaS platform Equine MediRecord

Kayna, the embedded insurance infrastructure teams with Willis to provide specialty Markel equine insurance solution to top-flight vertical SaaS platform Equine MediRecord Global leader in equine digital health software to offer an equine mortality insurance solution on its vertical SaaS platform Leading advisory, broking and solutions company Willis to broker policies in UK Affinity Program rollout with Kayna A-rated global specialty insurer, Markel Insurance to utilise Kayna tech to distribute an equine mortality solution across the Equine MediRecord platform Cork, Ireland (Sept. 1, 2025) – Kayna, the award-winning embedded insurance infrastructure platform, has teamed with Willis to provide an online insurance offering through Equine MediRecord (EMR), a leading vertical SaaS platform in equine digital health software and part of Canada-based Inova Group’s Business Infusions – the largest equine veterinary software group in the world. EMR simplifies compliance to animal welfare and anti-doping regulations with the only regulator-approved digital medicines register. The first software system to be approved by any equine regulatory body to meet universally stringent reporting requirements, EMR is utilised by some of the top horse organisations in the world and by equine regulators in Ireland, United Kingdom, France, United States, Hong Kong, Australia and Saudi Arabia. Kayna partnered...