USQRisk, the alternative risk underwriting arm of Ryan Specialty, has named industry veteran John Levy as its first global head of structured reinsurance.
The appointment lands as insurers worldwide turn increasingly to capital-relief tools to absorb rising claims volatility, and as Ryan Specialty continues to bulk up the alternative risk platform it built through its May 2025 acquisition of USQRisk's assets, a deal that was expected to bring in around $11 million in additional annual revenue at the time.
Levy joins from a global carrier, where he most recently led the U.S. structured solutions operation, overseeing a team responsible for originating, executing and managing bespoke structured re/insurance transactions.
He will now lead the structured reinsurance vertical at USQRisk as the firm scales its footprint as a reinsurance intermediary manager for tailored products.
Founded in 2020 and operating out of New York and London, USQRisk is split into two divisions: an Alternative Risk unit that structures multi-year solutions for corporate clients, and a Facilities arm that designs products for dislocated markets.
Levy arrives at a moment when cedent appetite for structured reinsurance has been climbing sharply. Brokers have reported a noticeable uptick in interest in adverse development covers, loss portfolio transfers, and structured quota shares, as insurers grapple with social inflation and prior-year reserve deterioration.
Alfonso Valera, international chief executive for reinsurance solutions at Aon, has pointed to rising demand for bespoke deals – including structured solutions, loss portfolio transfers and hybrid treaty-facultative facilities – underpinned by record industry capital.
Figures from Aon show third-party reinsurance capital hit an all-time high of $124 billion at the end of the third quarter of 2025, up $9 billion from a year earlier. Separate analysis from EY puts alternative capital at roughly 17% of global reinsurance capital, a 33% jump since 2020.
For USQRisk co-chief executive and chief underwriting officer Parag Bavishi, Levy's arrival is a vote of confidence in the firm's direction.
"We are excited to welcome John as Global Head of Structured Reinsurance," he said, pointing to Levy's actuarial grounding and his reputation among both buyers and sellers.
Levy, for his part, said he was drawn to USQRisk's existing alternative risk team and the chance to build tailored solutions for insurers navigating more demanding capital requirements, adding that he looked forward to joining a "seasoned team" focused on innovation in the segment.
