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

3 Months Ended

Mar. 31, 2023

Receivables And Current Assets [Abstract]

Receivables

The Company had receivables of $234.6 million and $231.4 million outstanding as of March 31, 2023 and December 31, 2022, respectively, which were recognized within Commissions and fees receivable – net in 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 roll forward of the Company’s allowance for expected credit losses:


	Three Months Ended March 31,
	2023			2022
Beginning of period	$	1,980		$	2,508
Write-offs		(425	)		(54	)
Increase in provision		531			49
End of period	$	2,086		$	2,503

Other Current Assets

Major classes of other current assets consist of the following:


	March 31, 2023		December 31, 2022
Prepaid expenses	$	14,607	$	21,062
Service receivables		275		414
Other current receivables		31,204		28,214
Total Other current assets	$	46,086	$	49,690

Service receivables contain receivables from Geneva Re, Ltd. Further information regarding related parties is detailed in Note 15, Related Parties. Other current receivables include insurance recoveries as described in Note 14, Commitments and Contingencies.