Ryan Specialty Group to acquire assets of Griffin Underwriting Services

Ryan Specialty announced that it signed a definitive agreement to acquire certain assets of Griffin Underwriting Services, a binding authority specialist and wholesale insurance broker headquartered in Bellevue, Washington. Griffin, founded in 1928, has relationships with retail insurance brokers both in the Pacific Northwest and across the country. Griffin offers a broad array of solutions across various specialty insurance lines, including earthquake and transportation. Griffin’s technical acumen and consistent underwriting results have attracted the support of numerous leading carriers. Griffin generated approximately $23M of revenue for the 12 months ended November 30. Terms of the transaction were not disclosed. The acquisition is expected to close in January 2023.