Ryan Specialty is committed to building an inclusive workplace where fairness and opportunity are central to our values. This is our first year reporting gender pay gap data, and we welcome the opportunity to share these insights. Reporting helps us understand pay differences, track progress, and take action to improve.

The figures below show our 2025 gender pay gap for the 12-month period ending 5 April 2025, including median and mean hourly pay gaps, bonus gaps, and representation in the top pay quartile, as required by regulations. The gender pay gap is the difference in average pay between men and women across the organization, regardless of role or length of service.

• Median gender hourly pay gap: 48.7%
• Mean gender hourly pay gap: 52.4%
• Bonus gap: 74.5% mean and 64.2% median
• Proportion receiving a bonus: 82.7% men / 80.2% women
• Top pay quartile representation: 88.1% men / 11.9% women

What’s Driving Our Gender Pay Gap

Ryan Specialty is committed to equal pay for equal work. Our gender pay gap is primarily attributable to workforce composition — specifically a higher number of men than women in senior roles, which typically attract a higher salary and higher bonus potential.

Key factors influencing our results include:

• Senior and specialist role mix: Men currently hold most senior leadership and higher-paying specialist roles. Additionally, we have more women than men in entry- to mid-level roles.
• Growth and acquisition profile: Our ongoing growth and M&A activity has, in most cases, brought in leadership structures that have historically been male-dominated.
• Bonus outcomes linked to role seniority: While participation in our bonus plan is similar for men and women in bonus-eligible roles, employees in more senior roles receive a greater proportion of their compensation through bonus participation.
• Impact of one-time payments: Large payments tied to acquisitions and termination payments for employees as of 5 April 2025 may have amplified the gender pay gap, as these payments were often concentrated among senior roles where women are underrepresented.
• Legacy talent pipeline: Lower representation of women in the upper pay quartiles limits near-term progression into the highest paid positions.

These factors result in average male pay being higher than average female pay overall, reflected in both our gender pay and bonus gaps. Gender pay gap reporting in insurance and specialist insurance distribution remains a recognised challenge across the UK market. Industry analysis continues to show the sector has one of the widest gaps, largely linked to representation in senior, technical and revenue-generating roles.

Where We Are Focused

We are committed to improving representation—particularly in senior and technical roles—because that is the most direct, sustainable way to reduce our gender pay gap over time.

Our focus areas align with approaches commonly seen in leading financial services and insurance pay gap reports: improving hiring pipelines, progression, retention, and pay/bonus governance.

Actions We Are Taking

We are taking practical steps across recruitment, development, reward, and culture to support long-term change:

1. Building a stronger, more inclusive hiring pipeline
   • We have built a new Talent Acquisition team to strengthen recruitment and improve consistency of inclusive practices, including gender-neutral job adverts and process review.
   • We are focused on improving female representation in leadership and specialist hiring based on merit, supported by targeted sourcing and selection practices.
2. Supporting progression through development, mentoring and sponsorship
   • We are investing in programmes that support women’s career progression, including mentoring, sponsorship and leadership development.
   • Our targeted WOW! (Women. Opportunity. Winning!) mentoring programme supports female employees with structured development and visibility.
3. Retaining talent through flexible and family-friendly ways of working
   • We continue to offer family-friendly policies including enhanced maternity/paternity pay, shared parental leave and flexible working arrangements—helping our employees to progress while balancing responsibilities.
4. Strengthening fairness and transparency in reward
   • We are reviewing our pay policies and reward practices to support fair, transparent, bias-free decisions.
   • We are reinforcing governance and consistency in how pay and bonus decisions are made, in line with good practice emphasising that pay gaps are often primarily about representation and progression.
5. Sustaining an inclusive culture
   • We continue to drive inclusion through awareness programmes, employee resource groups and training, to foster a workplace of belonging.

What We Expect Next

We are committed to building, growing and sustaining an inclusive and balanced workforce reflective of our core values as we continue to foster an environment where our people are given equal opportunity to grow, achieve and rise based on their merits, skill, hard work and imagination.

With this in mind, we aim to increase female representation in senior and higher-paid roles, and to build a stronger pipeline for future leadership. This will take time, particularly in a sector where specialist experience is built over long careers—but we are committed to sustained action and transparent reporting year-over-year.

Governance and Accountability

This report is published in line with UK gender pay gap reporting requirements, based on our snapshot date of 5 April 2025, and will be published and retained in accordance with regulations.