AMS Group Acquires Rackley Systems

October 27, 2003

The Connecticut-based AMS Group announced that it has acquired Rackley Systems, Inc., a leading provider of Commercial Lines and Personal Lines rating products and services to the independent agent, insurance carrier and MGA markets.

“The addition of Rackley to our overall group will allow us to deliver additional value-added products and services to our customers and to the market at large,” stated AMS CEO Euan Menzies. “Since it was founded by Joe Rackley in 1979, Rackley has been viewed as an innovative and high quality organization. The talents of the Rackley employee team, together with their highly regarded products, will be a terrific complement to our existing rating organization.”

The announcement noted that “Rackley and AMS Group’s existing rating operations will be combined into a single entity providing Commercial Lines rating solutions in fifty states, as well as in Washington, D.C. and Puerto Rico. On the Personal Lines side, the combined business will cover a total of 36 states. The new organization called AMS-Rackley will be led by Salil Donde, who is currently the general manager for AMS Rating.”

Rackley President and CEO Donnie Moore commented: “We are excited to join the AMS team, and we see many benefits for our customers resulting from this combination. The strengths of the two organizations will enable us to speed delivery of products that are highly responsive to the needs of our customers in today’s complex and fast-moving markets.” The bulletin also noted that Moore will “be assuming a senior role within the newly created organization, reporting directly to Salil.”

Topics Mergers

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