Ryan Specialty Group Holdings: Initiation of Coverage – Will The Acquisition of Castel Underwriting Agencies Be A Game Changer?

Ryan Specialty Holdings has reported robust financial results for the first quarter of 2024, indicating a strong start to the year with significant year-over-year growth in revenue, EBITDAC, and earnings per share. The company’s revenue increased by 20.6% to $552 million, driven by a commendable organic growth of 13.7% and contributions from strategic acquisitions which added nearly 7 percentage points to the top line. Such growth underscores Ryan Specialty’s effective execution of business strategies and ability to capitalize on market conditions.