Ryan Specialty Group Prepares for IPO March 16, 2021
Specialty insurance broker Ryan Specialty Group has filed a proposal with the Securities and Exchange Commission for an initial public offering (IPO).
The number of shares of Class A common stock to be offered and the price range for the proposed offering have not yet been determined.
Ryan Specialty Group said it expects to commence the initial public offering following completion of the SEC review process, subject to market and other conditions.
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The announcement comes six months after Ryan Specialty Group closed on its acquisition of another large wholesaler, All Risks. That deal united Illinois-based Ryan Specialty Group and its nearly $12 billion in premium, and Florida-based All Risks, which has close to $2.6 billion in premium.
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Sun-Times file photo
Jack Sandner, chairman of the Chicago Mercantile Exchange for most of the 1980s and 1990s, used to glory in showing VIPs and everyday visitors the colorful, chaotic trading floor he oversaw. He would call it “the cathedral of capitalism,” words spoken with gratitude and reverence.
But he also knew change was coming to his cathedral, and that it would have to adjust. He was involved in the first steps toward computerized trading that would change the character of futures trading, a core Chicago industry.
In 1997, he announced to the Chicago Sun-Times a revolutionary plan: allowing traders to use the internet to send orders for futures contracts directly to the trading floor. It would be a bracing new day for a business steeped in tradition, in the “open outcry” method of moving money with shouts and hand signals.