MarshBerry Advises Stewart Specialty Risk Underwriting in Strategic Sale to Ryan Specialty
Woodmere, OH – MarshBerry, a global leader in investment banking and consulting, is proud to announce its role as exclusive financial advisor to Stewart Specialty Risk Underwriting (SSRU) in its definitive agreement to be acquired by Ryan Specialty, a leading international specialty insurance firm. SSRU, a Toronto-based managing general underwriter (MGU), will join the Ryan Specialty Underwriting Managers (RSUM) division, expanding Ryan Specialty’s footprint into the Canadian market.
Founded in 2016 by Stephen Stewart, SSRU earned a reputation for underwriting excellence in high-hazard property and casualty solutions across sectors such as manufacturing, utilities, real estate, and oil & gas. With national reach across all 13 Canadian provinces and territories, SSRU has built a robust distribution network and strong carrier relationships.
“This transaction reflects the continued strength and strategic value of high-performing MGUs in today’s market,” said MarshBerry President Phil Trem. “SSRU’s disciplined underwriting, deep sector expertise, and national reach made it a compelling partner for Ryan Specialty. We’re honored to have advised Stephen Stewart and his team through this transformative deal and look forward to seeing their continued success under the RSUM platform.”
This transaction highlights MarshBerry’s deep expertise in advising high-performing MGUs through strategic transitions that drive long-term value. Serving as the exclusive financial advisor to SSRU, MarshBerry supported the firm in identifying the right strategic partner to accelerate growth and expand market reach. The acquisition by Ryan Specialty reflects SSRU’s strong underwriting performance, national distribution, and sector expertise—qualities that align with Ryan Specialty’s vision for their expansion in the Canadian market.
“Successfully building high quality delegated authority platforms is not easy,” added MarshBerry Managing Director George Bucur. “For those able to execute on a growth plan and meet the needs of their stakeholders, there are significant potential rewards. MarshBerry is thrilled for Stephen Stewart and colleagues as they begin their new partnership with RSUM. Further, we wanted to acknowledge B.P. Marsh on another quality investment and pending exit from the specialty intermediary marketplace.”
Terms of the transaction were not disclosed.
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MarshBerry is a global leader in investment banking and strategic consulting for the financial services industry. With over 40 years of experience, MarshBerry empowers firms in insurance brokerage & distribution, wealth advisory & retirement planning and accounting & tax practices to achieve long-term growth, maximize value, and navigate every stage of ownership. Core offerings include Investment Banking services such as Merger & Acquisition Advisory and Capital Raising, as well as Financial Consulting in Strategic Planning, Valuations, and Perpetuation Planning. MarshBerry also provides specialized support in Organic Growth Consulting, Executive Peer Exchange, Agency Network and Market Intelligence & Performance Benchmarking. For more information, visit www.MarshBerry.com.
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