Ryan Specialty to buy Washington wholesaler

Ryan Specialty Holdings Inc. said Sunday it has agreed to buy Bellevue, Washington-based wholesaler and binding authority specialist Griffin Underwriting Services.

Griffin generates about $23 million in annual revenue, a Ryan Specialty statement said.

Terms of the deal, which is expected to close in January 2023, were not disclosed.

Griffin offers a range of coverages in specialty lines, including earthquake and transportation insurance, the statement said.

Ryan Specialty is the third largest specialty intermediary in the United States, according to Business Insurance’s most recent ranking.