Charlotte, N.C.-based AmWINS Group Inc. acquired Beacon Risk Strategies, a Seattle-based managing general underwriter of excess-loss benefits insurance. Terms of the transaction were not disclosed.
Founded in 1999, Beacon Risk Strategies provides customized products and services to protect companies and their health plans from unexpected catastrophic claims. Beacon represents several carriers and can offer products in all 50 states, which enables the company to provide tailored packages to Blue Cross/Blue Shield plan markets and large self-funded employers.
“Beacon’s stop-loss capabilities represent a new product offering for our company and will strongly complement our existing capabilities,” Steven DeCarlo, AmWINS Group’s CEO.
“Joining AmWINS makes terrific sense,” said Wright Dickinson, Beacon Risk Strategies’ president. “Combining our underwriting expertise and long-standing carrier relationships with AmWINS’ national retail client network and existing product solutions allows us to instantly build new relationships and bring new services to our existing customers.”
AmWINS is a wholesale distributor of specialty insurance products and provides property and casualty, group life and health, and program administration services through retail agents. AmWINS operates more than 35 offices across the United States and
handles premium placements in excess of $3.3 billion annually.
Source: AmWINS Group Inc., www.amwins.com
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