Ryan Specialty Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Receivables and Other Current Assets

Receivables and Other Current Assets

6 Months Ended

Jun. 30, 2024

Receivables And Current Assets [Abstract]

Receivables

The Company had receivables of $384.4 million and $294.2 million outstanding as of June 30, 2024 and December 31, 2023, 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:


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Beginning of period	$	2,061		$	2,086		$	2,458		$	1,980
Write-offs		(498	)		(476	)		(1,285	)		(901	)
Increase in provision		1,590			479			1,980			1,010
End of period	$	3,153		$	2,089		$	3,153		$	2,089

Other Current Assets

Major classes of other current assets consist of the following:


	June 30, 2024		December 31, 2023
Prepaid expenses	$	26,060	$	25,762
Insurance recoverable		19,537		20,562
Other current receivables		20,974		15,905
Total Other current assets	$	66,571	$	62,229

Other current receivables contain service receivables from Geneva Re, Ltd. See Note 15, Related Parties, for further information regarding related parties. See Note 14, Commitments and Contingencies, for further information on the insurance recoverable.