Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Amwins to acquire Connected Risk Solutions from BRP Group

EditorRachael Rajan
Published 02/29/2024, 10:08 PM
© Reuters.

CHARLOTTE, N.C. - In a move to expand its brokerage capabilities, Amwins has entered into a definitive agreement to purchase Connected Risk Solutions, the wholesale E&S insurance brokerage arm of BRP (NASDAQ:DOOO) Group, Inc. (NASDAQ:BRP). The transaction, which is subject to customary closing conditions, is expected to complete on March 1, 2024.

Connected Risk Solutions specializes in healthcare and cyber insurance solutions and was established in January 2020 after BRP Group acquired Highland Risk Services, LLC and merged it with AB Risk Specialist, LLC and KB Risk Solutions, LLC. The acquisition by Amwins will include around 40 Connected Risk Solutions employees, primarily based in Atlanta and Chicago.

Jeff McNatt, President of Amwins Brokerage, expressed enthusiasm about the acquisition, highlighting the opportunity to integrate the expertise of Connected Risk Solutions with Amwins' existing team to better serve specialty areas. Trevor Baldwin, CEO of BRP, also remarked positively on the long-standing relationship between the two firms and his confidence in Amwins as the new home for Connected Risk Solutions' clients and colleagues.

The sale is part of BRP's strategy to concentrate on its core retail and MGA insurance businesses and to streamline operations. Both parties anticipate that the acquisition will benefit their growth and focus areas while providing opportunities for the involved employees and clients.

Amwins is known as the largest independent wholesale distributor of specialty insurance products in the United States, with a vast distribution platform that serves retail insurance agents. The company boasts over 7,300 employees, operates through more than 155 offices worldwide, and handles premium placements exceeding $33 billion annually.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

This article is reported based on a press release statement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.