North Carolina-based insurance wholesaler AmWINS Group Inc. said it has partnered with two insurance industry executives, Terry Younghanz and Richard Parks, to form a new managing general underwriter (MGU) focused on specialty insurance products.
Based in Kansas City, the MGU will primarily underwrite specialty commercial property and casualty exposures.
Younghanz is the former president and chief executive officer of Rockhill Insurance Group, which he founded in 2005 and sold to State Automobile Mutual Insurance Co. in February 2009. Prior to founding Rockhill, Younghanz was with St. Paul Surplus Lines Insurance Co., RLI Insurance Group and GE Insurance Solutions.
Parks, former president of Rockhill’s Specialty Insurance Division, held responsibility for the underwriting divisions including construction, healthcare, environmental, umbrella and professional lines. Parks also served on several executive committees at Rockhill including risk, strategic planning, information technology and mergers/acquisitions.
“It’s great to partner with a firm who understands the specialty insurance marketplace, values the importance of an independent distribution model and has the resources available to jumpstart this MGU,” said Younghanz.
AmWINS Group handles more than $7 billion in premium annually through our four divisions: brokerage, underwriting, group benefits and international.