Alternative Risk

Innovative alternative risk offerings that include, but are not limited to, captives, structured solutions, fronting, and ILS opportunities

Ryan Alternative Risk brings value to brokers and agents through a variety of innovative alternative risk offerings including single and group captives, structured solutions, fronting and other risk management services for commercial clients. The talent within these disciplines offers expertise in underwriting, actuarial, banking, accounting, reinsurance and captive insurance company formation and management.

Ryan Specialty has a strategic arrangement with a US-based insurer rated A XV by A.M. Best, with limited exclusive access to insurance capacity to support alternative risk placements. This arrangement allows for agility and innovation with a world-class financial institution for risks when traditional insurance does not address the client’s needs. Ryan Alternative Risk builds customized solutions for individual risks and qualified groups.

Ryan Alternative Risk Capital Solutions offers best-in-class underwriting, pricing, and optimized structuring of a diverse menu of ILS opportunities with sophisticated family foundations, private equity, pension funds, asset managers, and ILS investment managers. ILS structuring services and offerings can include, but are not limited to, CAT and Non-CAT sidecars, collateralized reinsurance, and CAT bonds.


Capital Solutions & ILS

Ryan Alternative Risk – Capital Solutions is the ILS-focused vertical within Ryan Alternative Risk which serves to match the superior quality of Ryan Specialty risk origination with sophisticated family foundations, private equity, pension funds, asset managers, and ILS investment managers. We are proud to offer best-in-class underwriting, pricing, and optimized structuring of a diverse menu of ILS opportunities, including CAT and Non-CAT sidecars, collateralized reinsurance, and CAT bonds. These opportunities provide naturally hedged solutions with a broad array of lines of business with strong return profiles. Capital Solutions is a non-balance sheet ILS platform in which we deliver alignment to our capital providers by holding material positions in each transaction. Ryan Alternative Risk – Capital Solutions is a natural innovation within the Ryan Specialty family and represents a continuation of the Ryan Specialty standard of excellence.

Download the Ryan Alternative Risk – Capital Solutions marketing sheet

Single Parent Captive

We collaborate with retail brokers and their commercial insureds to provide captive consulting, captive underwriting as well as formation and management services to establish private insurance company arrangements. As these are highly customized solutions, our team plays an ongoing role in the development and evolution of these arrangements, working as an extension of our retail broker’s team.

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Group Captive

Group captives are a leading alternative risk solution for insureds that don’t fit the profile or have the risk appetite for their own captive. These structures provide a substantial opportunity to access available underwriting profit and investment income traditionally retained by the insurance carrier but can also provide substantial control to the business over the decisions made on their insurance program. We collaborate with retail brokers, consultants and their commercial insureds to establish group captives to support targeted groups interested in taking and sharing risk together. These groups could be affiliated through our retail broker, an association or within their industry as friendly competitors. Our capabilities allow us to bring the tools to provide the feasibility analysis, underwriting platform, fronting partner, claims handling vendor and captive management services. These capabilities lay the groundwork for a tailor-made structure that cares for the unique risks of the group.

In addition, we have active heterogeneous group captives that we can provide to our retail brokers if they do not have a group size to form their own new captive. Heterogeneous group captives include insureds with a mix of industries that they operate in and are generally not affiliated through any kind of association or other business connection.

This innovative group captive offering is available through Keystone Risk Partners.

The AXSAL Re group captive provides lower cost opportunities for businesses with superior claims experience by sharing underwriting profits and investment income with insureds. AXSAL Re brings together upper-middle market transportation businesses (“members”) into a single program, where each member retains the majority of their excess risk and reward, and shares outlier performance (both good and bad) with other captive members. As a result, AXSAL Re provides each member access to the profitability of their excess program, an efficient reduction of volatility in the member’s unexpected excess loss, and efficient use of the purchasing power of the group to lower the total cost of risk.

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Segregated Cell Captive

A segregated cell captive offers businesses a way to achieve the advantages of a single parent captive solution with lower start-up and annual operating costs. In addition, this form of customized captive solution allows insureds to delegate the governance and regulatory compliance to the sponsor, thus lowering the corporate resource commitments associated with this arrangement. Finally, this form of captive solution results in the formation of legally separate insurance arrangements with individual banking and independent regulatory oversight allowing for the underwriting and financial flexibility of a single parent solution.

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Primary Casualty Solution

Innovative alternative solutions can be crafted for individual businesses who want to retain a significant portion of their primary workers’ compensation, liability and / or property risks through a captive or other customized alternative insurance structure.

  • Our team is experienced at formulating data-driven strategies to develop unique risk transfer solutions.
  • Our approach can utilize captives, reinsurance, deductibles, quota-shares, corridor deductibles and other alternatives.
  • Our data analytics practice transforms third-party administrator data into management level reports to identify early-stage actionable metrics, providing invaluable support to brokers and risk managers.
  • Our team’s decades-long track record and resulting strong market relationships bring stable, integrated solutions across varied market cycles.

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Structured Solutions

The term structured solution covers a broad range of structures designed to provide insurance protection after the client assumes a meaningful risk position. Although structured solutions are varied and tailored to the individual risk circumstance, most are multi-year arrangements where the client takes a significant loss portion in the layer bounded by annual and multi-year term limits.

For the benefit of our sophisticated client base, we bring unique multi-year solutions tailored to the client’s risk needs by incorporating an element of stability, even during challenging market conditions. In addition, clients can benefit in the form of potential sizeable return premiums and quantifiable downside risk. The stability element also contributes to client value by helping to positively impact the excess.

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Fronting is a specialized form of insurance coverage. Under this approach, an insurance policy is issued by the fronting company and then through contractual agreements, the risk under this policy is either transferred to the insured’s captive or to an approved third-party reinsurer. Another similar arrangement is a matching deductible where the financial risk is retained by the insured.

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