AmWINS Group and Partners Specialty Group, are set to merge to form a single U.S. -based specialty insurance broking giant, with a global operating spectrum of $14 billion of combined annual premiums and 4,100 employees across 12 countries.
Partners will join AmWINS’ Brokerage Division, expanding the firm’s broking capacity with its expertise and clientele; “Partnering with AmWINS allows us to continue providing our clients with the service they have come to expect while expanding our capabilities with AmWINS’ exclusive products, actuarial, catastrophe modeling and analytical tools,” said Dan McDonnell, CEO of Partners.
The acquisition reinforces AmWINS growth trajectory as a provider of specialized and diverse insurance distribution on a global scale.
“We are gratified and excited to partner with Dan, Maureen Caviston and the entire Partners team,” said M. Steven DeCarlo, CEO of AmWINS.
“Not only does this combination strengthen our geographic footprint, but more importantly, both firms share very similar entrepreneurial cultures centered on putting clients first with broad-based employee equity ownership,” he added.
The acquisition is expected to be completed within 1-2 months.