Special insurance broker AmWINS Group Inc. said it has completed its acquisition of the acquisition of Private Client Insurance Group, a Palm Beach Gardens, Florida-based wholesale broker specializing in personal lines insurance for high net worth individuals.
PCIG will join the firm’s small accounts division, AmWINS Access, and is part of the plan to make “significant investments” in this platform, according to M. Steven DeCarlo, CEO of AmWINS.
“The placement of personal lines insurance, much like the placement of small commercial lines insurance, is about expertise, access to markets and speed of execution. As such, it only makes sense that we would strategically build the capabilities of AmWINS Access in both personal and commercial lines insurance,” De Carlo said in the announcement.
David Lavins, senior vice president at North Carolina-based AmWINS Group, said the PCIG team deepens the firm’s expertise in the large and growing high net worth personal lines segment, which is a strategic growth area for AmWINS.
PCIG, under owner Ray Celedinas, has forged national appointments with carriers including ACE Private Risk, AIG Private Client Group, Chubb and Fireman’s Fund as well as with leading excess and surplus lines carriers with expertise in the luxury market. It offers retail agencies expertise across multiple lines of business including high value homeowners, luxury and antique automobiles, yacht and marine, and private collections.
Terms of the deal were not disclosed.
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