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AmWINS to acquire personal lines specialty MGA Seacoast Brokers

3rd January 2018 - Author: Staff Writer

Specialty insurer AmWINS Group has reached an agreement to acquire personal lines specialty MGA Seacoast Brokers, LLC, with the transaction due to close following regulatory approval.

AmWINS logoSteven DeCarlo, Chief Executive Officer of AmWINS, said; “the addition of Seacoast to our AmWINS Access division significantly increases our personal lines products and services.

“Seacoast’s history of offering innovative products and superior customer service mirrors our commitment to providing industry-leading solutions for our retail clients and carrier partners.

“Our clients will now have access to all of AmWINS’ products, including its proprietary product offerings. Our employees will also benefit from the stability and support that comes with joining such an established and respected team.”

Robinson Bradshaw & Hinson, P.A. acted as legal counsel to AmWINS for the terms of the acquisition; Seacoast and Trident received financial advice from TigerRisk Capital Markets & Advisory and legal counsel from Lewis Rice, LLC.

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The South Carolina-based MGA designs and services surplus lines homeowners’ business throughout the U.S., and Trident Claims Management, LLC , a licensed third-party claims administrator which manages claims on all Seacoast-issued policies.

Seacoast provides homeowners’ products to insurance agents covering residential properties predominantly for secondary, seasonal, vacation and investment use which are located in catastrophe-prone and/or resort-oriented communities.

Brian Hover, President of Seacoast, said; “we are excited to join the AmWINS family, and we are looking forward to expanding our geographic footprint by offering our products, services and technology solutions to AmWINS’ retail clients across the U.S.

“Our clients will now have access to all of AmWINS’ products, including its proprietary product offerings. Our employees will also benefit from the stability and support that comes with joining such an established and respected team.”

David Lavins, Senior Vice President at AmWINS Group, said the acquisition will give the insurers’ clients access to Seacoast’s retailer-facing technology, which provides bindable quotes within minutes, while Trident significantly expands its services by adding claims administration capabilities.

The terms of the transaction were not disclosed.

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