Wholesale Brokerage was Ryan Specialty Holdings’s largest product and service line in fiscal 2025, bringing in $1.60B of $2.99B (53%).
| Product and Service | FY 2022 | FY 2024 | FY 2025 |
|---|---|---|---|
| Wholesale Brokerage | $1.13B | $1.49B | $1.60B |
| Underwriting Management | $351.57M | $646.22M | $1.02B |
| Binding Authority | $231.05M | $320.38M | $370.16M |
| Total | $1.71B | $2.46B | $2.99B |
Ryan Specialty Holdings brought in $2.99B from its three product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 21.9% from $2.46B in fiscal 2024. Wholesale Brokerage was the largest at $1.60B (53.4%), ahead of Underwriting Management at $1.02B (34.2%) and Binding Authority at $370.16M (12.4%).
Compared with fiscal 2024, Underwriting Management grew fastest, up 58.5% to $1.02B. Every line above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these lines grew from $1.71B to $2.99B, a compound annual growth rate of 20.5%. Wholesale Brokerage's share of the total fell from 66.0% to 53.4%.
United States was Ryan Specialty Holdings’s largest region in fiscal 2025, bringing in $2.86B of $3.05B (94%).
| Geography | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| United States | $1.68B | $2.02B | $2.39B | $2.86B |
| Foreign | $49.15M | $54.97M | $123.73M | $186.88M |
| Total | $1.73B | $2.08B | $2.52B | $3.05B |
Ryan Specialty Holdings brought in $3.05B from its two regions in fiscal 2025, the year ended December 31, 2025. That was up 21.3% from $2.52B in fiscal 2024. United States was the largest at $2.86B (93.9%), ahead of Foreign at $186.88M (6.1%).
Compared with fiscal 2024, Foreign grew 51.0% to $186.88M and United States grew 19.7% to $2.86B. From fiscal 2022 to 2025, combined revenue from these regions grew from $1.73B to $3.05B, a compound annual growth rate of 20.9%. United States' share of the total fell from 97.2% to 93.9%.
Ryan Specialty Holdings (RYAN) reports its revenue by product and service and by geography. In fiscal 2025, Wholesale Brokerage was its largest product and service line, bringing in $1.60B (53.4% of the total), followed by Underwriting Management at $1.02B (34.2%).
Wholesale Brokerage was Ryan Specialty Holdings' largest product and service line in fiscal 2025, bringing in $1.60B, or 53.4% of the $2.99B total across its three product and service lines.
United States was Ryan Specialty Holdings' largest region in fiscal 2025, bringing in $2.86B, or 93.9% of the $3.05B total across its two regions.
Among Ryan Specialty Holdings' product and service lines that make up at least 2% of revenue, Underwriting Management grew fastest in fiscal 2025, up 58.5% from $646.22M to $1.02B.
Every figure comes from Ryan Specialty Holdings' annual financial filings, as reported. Each line keeps the name Ryan Specialty Holdings gives it, and years follow its fiscal calendar.
Ryan Specialty Holdings' revenue by product and service goes back to fiscal 2022, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.