How Did Patrick Ryan Make His Money?

Patrick Ryan’s Profile Summary

Company	Ryan Specialty Group
Position	Chief Executive Officer and Chairman of the Board
Source of wealth	Insurance and Risk Management Services
Also known as	Pat Ryan
Age	88
Education	Bachelor of Science, Northwestern University
Citizenship	USA
Residence	Illinois, USA
Family	Married, three children
Website, Social Media	https://www.ryansg.com https://www.linkedin.com/company/ryan-specialty-group https://x.com/RyanSpecGroup

Patrick Ryan’s biography

Patrick G. Ryan, born in May 1937 in Milwaukee, Wisconsin, is an American entrepreneur and one of the most influential figures in the insurance and risk management industry. He graduated from Northwestern University in 1959 with a degree in business and soon after founded Pat Ryan & Associates in 1964. The company specialized in selling insurance products to car dealerships and quickly grew into a significant player in the insurance sector.

In 1982, Ryan’s company merged with Combined International Corporation to form Aon Corporation, one of the world’s largest insurance brokerage firms. As the company’s CEO, Ryan spearheaded its global expansion through numerous acquisitions and innovative insurance solutions, including risk management services. By the time he stepped down as CEO in 2008, Aon had become a multinational leader with operations in more than 120 countries.

In 2010, Ryan founded Ryan Specialty Group (RSG), focusing on providing specialty insurance services to brokers and carriers. The company quickly grew into a major force in the specialty insurance market, reporting over $2.1 billion in revenue by 2023. Ryan remains actively involved in the company as Chairman and CEO. His business ventures have solidified his status as one of the wealthiest individuals in the insurance industry, with a net worth of approximately $11 billion.

Beyond his business success, Ryan is known for his philanthropic contributions, particularly to Northwestern University, where he donated $480 million in 2021, the largest single gift in the university’s history.

How did Patrick Ryan make money?
Patrick G. Ryan’s path to wealth started in the mid-1960s when he founded Pat Ryan & Associates, a company that sold insurance products to car dealerships. His innovative approach of bundling insurance with car sales allowed the business to grow rapidly. By the early 1980s, the company had become a major player in the insurance sector, which led to a merger with Combined International Corporation in 1982, forming Aon Corporation.

As Aon’s CEO, Ryan oversaw the company’s aggressive expansion through acquisitions and the introduction of new insurance products and services. Aon became known for providing comprehensive risk management solutions, and by the late 1990s, it had acquired over 100 companies, further strengthening its position in the global insurance market. Ryan’s leadership helped turn Aon into one of the largest insurance brokerage firms in the world, with billions in annual revenue.

After retiring from Aon in 2008, Ryan launched Ryan Specialty Group (RSG) in 2010. The company focused on providing specialized insurance services to brokers, agents, and carriers, filling a gap in the insurance market. RSG grew rapidly, generating over $2.1 billion in revenue by 2023. The firm went public in 2021, further increasing Ryan’s wealth through his significant ownership stake.

Ryan’s wealth primarily comes from his leadership and ownership stakes in Aon and RSG. His ability to identify market opportunities, execute strategic acquisitions, and innovate in risk management services has been the foundation of his financial success in the insurance industry.
What is Patrick Ryan net worth?

As of 2025, Patrick Ryan’s net worth is estimated to be $12.9 B.

What is Patrick Ryan also known as?

Patrick G. Ryan, commonly known as Pat Ryan, is an American billionaire entrepreneur renowned for founding Aon Corporation and Ryan Specialty Group, both leaders in the insurance and risk management industry.

Prominent achievements of Patrick Ryan

Patrick Ryan founded Aon Corporation, leading it to become a global leader in insurance and risk management. He later established Ryan Specialty Group, which has grown significantly under his leadership. His philanthropic efforts include a $480 million donation to Northwestern University, the largest in the university's history.

What are Patrick Ryan’s key insights?

Patrick Ryan emphasizes steady growth through strategic acquisitions and brand recognition. He believes in offering a comprehensive range of services under one umbrella to meet diverse client needs, fostering innovation and adaptability in the evolving insurance industry.

Patrick Ryan’s personal life

Patrick Ryan is married to Shirley Ryan, and together they have three children. The family is known for their philanthropic contributions, particularly in the fields of education and healthcare.

Useful insights

Understanding market forces

In my experience, to truly succeed as an investor, it’s essential to understand the driving forces behind market behavior. Market movements aren’t random—they’re influenced by a range of economic theories and dynamics. The following books provide valuable insights into these forces, offering a deeper understanding of how global financial markets operate and what shapes their trends.

Nassim Nicholas Taleb – "The Black Swan"
- Summary:
  
  Taleb explores the concept of rare, unpredictable events—so-called "Black Swans"—that can have massive impacts on markets and society. These events are often overlooked by traditional risk management models, leading to devastating consequences when they occur. Taleb illustrates how these unpredictable shocks shape our world, often more than gradual, expected changes.
- Why read it:
  
  This book challenges conventional thinking about risk and uncertainty, showing that many major historical and financial events were "Black Swans." It's a vital read for investors who want to build resilience in the face of market volatility.
John Maynard Keynes – "The General Theory of Employment, Interest, and Money"
- Summary:
  
  Keynes revolutionized economics by focusing on total demand within an economy and its effect on output and inflation. His theory suggested that government intervention could stabilize economic cycles through fiscal and monetary policy. The book also explains the consequences of under-consumption and the role of interest rates in managing economic stability.
- Why read it:
  
  For investors interested in macroeconomic trends and policy impacts, Keynes’ work is essential. Understanding the Keynesian framework can help investors predict how government actions might influence market performance.