Paul Carnegie Appointed President and Whitney Alt Promoted to Chief Distribution Officer at Velocity Risk Underwriters

MAY 1, 2026 | CHICAGO - Ryan Specialty Underwriting Managers ("RSUM"), the underwriting management division of Ryan Specialty (NYSE: RYAN), is pleased to announce promotions at Velocity Risk Underwriters ("Velocity Risk"), its tech-enabled managing general underwriter ("MGU") specializing in complex commercial property catastrophe insurance. Paul Carnegie has been promoted to President and Whitney Alt to Chief Distribution Officer, both effective May 1, 2026.

In his new role as President, Paul Carnegie will be responsible for driving the operating performance of Velocity Risk, with a focus on advancing the firm's three core pillars-scale, expertise and service. He will lead the continued development and execution of Velocity Risk Underwriters' strategy, further enhancing the MGU's leadership position in the specialty property market.

In her new role, Whitney Alt will lead all aspects of Velocity's distribution strategy across the Velocity Risk group of companies, including Velocity Risk Underwriters, WKFC Underwriting Managers, WKFC Specialty and AgRisk Underwriters.

Miles Wuller, CEO of Ryan Specialty Underwriting Managers, said, "Paul's leadership style-grounded in accountability, collaboration and a relentless focus on outcomes-makes him uniquely suited for this role. He leads by example, brings clarity to complex decisions and consistently raises the bar for performance across the organization. Whitney's promotion reflects her significant contributions to Velocity Risk's success and our continued focus on building a leadership team capable of scaling the business and strengthening Velocity's position as a market leader in specialty property insurance."

Jake Rothfuss, CEO of Velocity Risk, WKFC and AgRisk, remarked, "Paul has served as Velocity's Chief Underwriting Officer with distinction, consistently demonstrating exceptional leadership, deep technical expertise, and an unwavering commitment to our clients, broker trading partners, and capital providers. His impact on Velocity's underwriting performance, market positioning, and team development has been significant."

Commenting on his promotion, Paul stated, "Becoming President of Velocity is an incredibly proud moment. Our success is driven by an exceptional team whose discipline, expertise and commitment to excellence have allowed us to consistently outperform in even the most challenging markets. The world around us is changing rapidly, bringing both complexity and opportunity. Success will belong to those who embrace change, adapt quickly and lead with conviction. I'm excited and honored to guide Velocity into this next chapter and confident in what we can achieve together."

"Whitney's role as Chief Distribution Officer is critical to our continued success," Jake Rothfuss added. "We view distribution management as a core competitive advantage and a key focus area for the future of the business. Whitney has served as Vice President of Distribution consistently demonstrating strong leadership, deep market connectivity and a relentless focus on delivering value to our broker trading partners. She has played a critical role in expanding Velocity's distribution footprint and strengthening key relationships across the market."

Commenting on her promotion, Whitney stated, "I'm proud to step into the Chief Distribution Officer role and lead the next phase of our distribution strategy across our property MGUs. Velocity's focus is clear: build a differentiated, relationship-led model that reflects who we are at our best and delivers meaningful value and relationships. In a constantly changing market, we will win by leading with clarity, creativity and trust. By deeply understanding our brokers and what matters most to them, we will evolve how we work together, accelerate impact and drive sustainable growth. I'm excited about what we'll build together."

About Ryan Specialty Underwriting Managers

Ryan Specialty Underwriting Managers is an industry leader in delegated authority underwriting services. Our family of managing general underwriters and national programs have the expertise and authority to design, underwrite, bind, and administer a diverse portfolio of risks. Our value proposition originates with our 1500+ industry professionals who are empowered by centralized technical support and policy lifecycle administration, coupled with a broad distribution network of retail and wholesale brokers. We have been diligently servicing our valued clients and trading partners since our establishment in 2010 and now have operations in North America, the UK, Europe, the Middle East and Asia Pacific. To learn more, please visit ryanspecialtyum.com.

About Velocity Risk Underwriters

Velocity Risk Underwriters, LLC ("Velocity Risk"), a tech-enabled 50 state E&S specialty property insurance managing general agent, is a leading provider of risk management solutions with a focus on delivering tailored specialty insurance coverage for complex commercial exposures. Through strategic trading partnerships and a commitment to innovation, Velocity Risk offers industry-leading service and risk solutions for its clients and trading partners. The firm has over 150 employees across five U.S. locations: Nashville (headquarters), Atlanta, Birmingham, Chicago, and Dallas. For more information, please visit velocityrisk.com.

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Alice Phillips Topping
Chief Marketing & Communications Officer
Ryan Specialty
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+1 312-635-5976