Global specialty insurance provider AmWINS Group is set to acquire Stealth Partner Group, an Arizona-based general agent specialising in medical stop-loss insurance.
Under the terms of the agreement Stealth will combine with AmWINS subsidiary Stop Loss Insurance Services in early 2020.
The move is designed to create a premier stop-loss general agency in the United States.
Operating under the Stealth brand, Patricia Berridge and Harley Barnes will lead the combined firm, which will be part of AmWINS’ Group Benefits division.
“We’re excited to partner with Patty, Harley, and the entire team at Stealth,” said Scott M. Purviance, Chief Executive Officer of AmWINS.
“As the number of self-funded employer groups continues to increase, the addition of Stealth significantly expands our ability to empower brokers to provide stop-loss and cost containment solutions to their self-funded clients.”
Patty Berridge, co-founder of Stealth, added, “We are looking forward to joining the AmWINS family and expanding our offering through this partnership.
“We know our employees and clients will benefit from the merger of two highly specialized firms, rooted deeply in the stop-loss space.”
AmWINS says Berridge and Barnes will be focused on combining the best of both firms in order to provide “exceptional products and service” to retailers and their self-funded clients.
“The partnership between Stealth and SLIS will generate incredible value and opportunity for group benefits brokers and their clients,” said Harley Barnes, co-founder of Stealth.
“We look forward to working with Rebecca Bocek, Gerry Gates and the entire team at SLIS. Together, our two firms will provide us with unique access to all of the leading stop-loss markets and enable us to build a wide range of other value-added capabilities that support our carrier partners, retail brokers, and their self-funded clients.”
