Everest sells certain assets to Ryan Specialty

Everest Group has entered into a strategic agreement for international specialty insurance firm Ryan Specialty to acquire certain assets of Everest’s EverSports and Entertainment Insurance business, an MGU serving customers in the Sports, Leisure, and Entertainment market.

Founded in 2013, EverSports has broad diversification across the various SLE sub-classes including amusement facilities, amateur sports, touring artists, etc. The business will join Alive Risk, Ryan Specialty’s existing SLE facility, enhancing both firms’ product offerings and access to distribution.

“We’re very excited to welcome this team to the Ryan Specialty family. David Nikolai and the members of the EverSports team are well known and respected in the SLE sector, and we see a tremendous cultural fit with Alive Risk. We look forward to bringing these great brands and product capabilities together to further serve our trading partners.” – Miles Wuller, President and CEO of Ryan Specialty Underwriting Managers.

“This agreement builds on the long-standing trading partnership between Everest and Ryan Specialty and is well-aligned with the strategic objectives of both organizations. As Everest continues to execute on our insurance business strategy, expanding our offerings and capabilities globally, we are focused on core areas where we have the deepest concentration of resources and provide the marketplace with the greatest value. Ryan Specialty, with its dedicated focus and investment in the Sports, Leisure, and Entertainment market, is positioned to maximize the EverSports and Entertainment portfolio, and its long-term potential.” – Jim Williamson, Everest Group Chief Operating Officer.