Ryan Specialty's organic growth slows to 4% in the third quarter as net income rises 41% to $88m

Ryan Specialty Holdings, the US wholesale broker and managing underwriter, reported third-quarter 2026 revenue of $790.0m, 4.7% more than a year earlier, in an earnings release it filed with the SEC on 29 October. Organic revenue growth was 4.0%, against 15.0% in the third quarter of 2025.

Net income rose 40.6% to $88.0m, or $0.29 per diluted share. Adjusted EBITDAC, a profit measure the company uses, grew 3.8% to $244.4m. The adjusted EBITDAC margin narrowed to 30.9% from 31.2%, and adjusted diluted earnings per share rose 8.5% to $0.51.

Chief executive Timothy Turner said the team delivered in "one of the most challenging markets we have ever seen". The company said growth came from new clients, strong renewal retention and continued flow of business into specialty and excess and surplus lines markets. Casualty grew across most of the portfolio, while property declined moderately. The release gave no rate figures.

Ryan Specialty kept its 2026 guidance of organic revenue growth in the mid-single digits. It changed its guidance for the adjusted EBITDAC margin to "down modestly" compared with 2025. The company returned $173.7m to shareholders in the quarter, including $150.0m of share repurchases, and has $150.0m of buyback authorisation left.