By Mia MacGregor

May 20 - (The Insurer) - Ryan Specialty has acquired 360 Underwriting, a Dublin-based MGU specialising in commercial construction.

Terms of the deal were not disclosed.

360 is based in Dublin and Galway and specialises in commercial construction. The MGU is led by managing directors Paul Sherry and Tommy Byrne.

This acquisition will integrate 360 into the Ryan Specialty Underwriting Managers division. Founded in 2017, 360 has gained capital support in areas including latent defect insurance and owner-controlled insurance programs.

“Not only are they a perfect fit from a cultural perspective, but they are an excellent complement to our existing latent defect business and a natural entry point for Ryan Specialty to Ireland,” said Mark Birrell, executive chairman, Ryan Specialty Underwriting Managers International.

In April, Ryan Specialty announced that it had signed a definitive agreement to acquire certain assets of alternative risk and facilities underwriter USQRisk Holdings in a roughly $30.5 million cash deal.