Ryan Specialty Group Holdings Inc. reported nearly 30% organic revenue growth in the second quarter and expects strong full-year organic growth, the company’s top executives said in its inaugural earnings call as a public company on Wednesday.

The Chicago-based specialty brokerage and underwriting group, which completed an initial public offering in July, also expects to recharge its acquisition strategy following the successful listing, Patrick G. Ryan, founder, chairman and CEO, said on the call.

Mr. Ryan, who established the company in 2010 after retiring from Aon PLC, said it has benefited from an increase in business flowing into the excess and surplus lines market as traditional insurers more frequently decline tougher risks as losses increase.

Ryan Specialty reported second-quarter revenue of $390 million, a 58.3% increase over the same period last year. The sharp increase in part reflected Ryan Specialty’s purchase of rival All Risks Ltd. in September 2020.

The company reported organic growth – which excludes acquisitions, the effect of foreign exchange and other factors – of 28.5% in the quarter, compared with 18.5% organic growth in the same period last year.

The organic growth “was driven through a combination of new client wins, expanding relationships with existing clients and a higher rate of growth in our total addressable market as risks continue to flow out of the admitted market and into the E&S market,” said Jeremiah Bickham, chief financial officer. “Further, multiple classes of risk realized year-over-year premium increases.”

Ryan Specialty expects to report full-year organic growth of 18% to 20%, Mr. Bickham said.

Rates continue to increase in many lines, such as cyber liability, health care and transportation, and there is only “very, very modest rate deceleration that we see in one or two lines,” said Timothy W. Turner, president of Ryan Specialty.

Second-quarter net income increased 27.1% to $63.4 million.

Among its three main areas of operations, the company’s wholesale brokerage net commissions and fees increased 48.7% to $256 million; binding authority net commissions and fees grew 69.8% to $53.6 million; and underwriting management net commissions and fees increased 89.4% to $80.3 million.

The specialty sector is seeing increased consolidation and Ryan Specialty expects to make more acquisitions, Mr. Ryan said.

“We had to hold back, obviously, during the IPO but we’ve had discussions with people and we’re very confident that the pipeline is strong, high-quality,” he said.