The specialty insurance firm recently declared that William J. Devers, after a decade of service on the board of directors, vacated his position last month. In the wake of this departure, Pat Ryan Jr. was appointed to the board this week.
Pat Ryan Jr., the newly appointed member, is an accomplished businessman. He currently holds the position of founder and CEO at Incisent Labs Group, a holding company and incubator for emerging technology companies. According to the news release issued on January 2 announcing his appointment, he has also founded two software as a service companies and an early-stage venture capital firm.
Patrick G. Ryan, chair of the board of directors at Ryan Specialty Holdings, expressed his enthusiasm about the new addition: "We are very excited to welcome Pat to Ryan Specialty’s Board of Directors. Pat will bring a new dimension to our Board with his deep knowledge of technical excellence in business. He has a proven track record of success with high growth companies, and we welcome his strategic and knowledgeable insights."
Ryan Specialty Holdings, established in 2010 and headquartered in Chicago, Illinois, operates across North America, Europe and the United Kingdom as stated on the company's website. Over time, it has expanded through acquisitions and developed its business with specialty entities within the company such as Perse (also known as Power.Energy.Risk), Corrisk Solutions among others. The most recent acquisition took place in December 2023 when it acquired Accurisk Holdings.
Reflecting on Devers' contribution over the years, Patrick G. Ryan said: "Bill Devers has been on the Board of Ryan Specialty since 2013 and has been a trusted advisor, colleague and friend over the years. We thank Bill for his time and advice that has been so instrumental in guiding Ryan Specialty these past 11 years." This statement was made in conjunction with the news release announcing Devers' retirement from the board and Pat Ryan's appointment.
According to the profile from Ryan Specialty, Pat Ryan Jr. has served on Penske Corporation’s board for 25 years and is a trustee of Northwestern University. His academic credentials include a Juris Doctorate from Northwestern School of Law, a Master of Business Administration from Northwestern’s Kellogg School, and a Bachelor of Arts from Georgetown University.