U.S. insurance wholesaler AmWINS Group, Inc. has completed its previously announced acquisition of THB Group plc of London.
THB, an independent insurance and reinsurance broker and risk management business, serves clients and markets in the U.K. and internationally via its network of offices worldwide. The firm has been listed on the London Stock Exchange (AIM) since October 2002. After the closing, the London Stock Exchange issued a notice de-listing THB Group’s shares from the AIM.
In November, AmWINS said the directors of THB unanimously agreed to recommend that its shareholders approve AmWINS’ cash offer price of 80.55 pence [$1.28] per share, which shareholders did.
THB Group has three operating divisions: Thompson Heath & Bond Limited (a Lloyd’s broking operation that also has access to London and international markets), THB UK Limited and THB International Holdings Limited.
Thompson Heath & Bond Limited comprises both wholesale and retail insurance divisions which between them arrange cover for risks relating to businesses, professionals and individuals in the UK, U.S. and around the world.
Within THB UK Limited, THB Risk Solutions is a distributor of insurance schemes, Cardinus Risk Management offers risk management services relating to the working environment including occupational road risk, and Unicorn Underwriting is a managing general agent providing underwriting expertise.
THB International Holdings Limited comprises overseas businesses acquired from PWS in 2008.
Frank Murphy, chief executive of THB Group, retains that title while also becoming CEO of the AmWINS International Division.
AmWINS now has more than 2,300 employees in 21 countries worldwide and handles more than $6.7 billion in premium annually.
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