AmWINS Group Inc. and Colemont Insurance Brokers announced that the two companies will be combined to form a specialty insurance distributor. The combined companies would place more than $4.8 billion in annual premiums, and have more than 1,800 employees in 16 countries worldwide.
Terms of the transaction were not disclosed.
The combined firm will be led by Steve DeCarlo, CEO; Skip Cooper, president; James Drinkwater, president, U.S. brokerage division; Sam Fleet, president, group benefits division; Michael Lapeyrouse, underwriting division leader and president, The American Equity Underwriters Inc.; and Surinder Beerh, CEO, Colemont Global Group.
The combined organization will operate under the AmWINS Group Inc. name, and will be composed of four divisions:
• AmWINS Brokerage — distributes property/casualty, and financial services products through retail brokerage clients
• AmWINS Underwriting — is composed of several niche underwriting programs that have contractual authority from various insurance carriers to underwrite, bind, issue and administer insurance policies on their behalf
• AmWINS Group Benefits — designs, distributes and administers specialty group insurance products through retail insurance brokerage clients
• Colemont Global Group (the company's International Division) — operates as a full-service, worldwide insurance and reinsurance brokerage network, headquartered in London, with more than 25 offices located in 16 countries
"We are gratified and excited to bring the talent of AmWINS and Colemont together," said DeCarlo. "Not only does this combination strengthen our geographic footprint but, more importantly, we have expanded the expertise and capabilities available to our clients. The combination results in broadened placement expertise, deepened collaboration and an overall ability to offer more solutions to our retail customers with an enhanced distribution system for our markets."
The combined organization will have access to more than 1,000 specialty lines markets and programs, as well as in-house underwriting facilities and group benefits products.
"From the beginning, the two firms have had similar cultures—strongly founded in being independent and doing what is best for the client," says Gene Eisenmann, founder of Colemont. "Bringing the two firms together provides an opportunity to combine the best talent in the industry with access to the most diverse product solutions and unparalleled relationships with insurance carriers and markets."
For more information about the integration, please visit their Web site.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access