Ryan Specialty Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Receivables and Current Assets

Receivables and Current Assets

12 Months Ended

Dec. 31, 2023

Receivables And Current Assets [Abstract]

Receivables and Current Assets

Receivables and OTHER Current Assets

Receivables

The Company had receivables of $294.2 million and $231.4 million outstanding as of December 31, 2023 and 2022, respectively, which were recognized within Commissions and fees receivable – net on the Consolidated Balance Sheets. Commission and fees receivable is net of an allowance for credit losses. The Company’s allowance for credit losses is based on a combination of factors, including evaluation of historical write-offs, current economic conditions, aging of balances, and other qualitative and quantitative analyses.

The following table provides a summary of changes in the Company’s allowance for expected credit losses:


	Year Ended December 31,
	2023			2022
Beginning of period	$	1,980		$	2,508
Write-offs		(1,722	)		(1,660	)
Increase in provision		2,200			1,132
End of period	$	2,458		$	1,980

Other Current Assets

Major classes of other current assets consist of the following:


	As of December 31,
	2023		2022
Prepaid expenses	$	25,762	$	21,062
Insurance recoverable		20,562		20,562
Other current receivables		15,905		8,066
Total Other current assets	$	62,229	$	49,690

Other current receivables contain service receivables from Geneva Re, Ltd. See Note 17, Related Parties, for further information regarding related parties. See Note 16, Commitments and Contingencies, for further information on the insurance recoverable.