Connected Risk Solutions to join Amwins'
Brokerage Division
CHARLOTTE, N.C., Feb. 29,
2024 /PRNewswire/ -- Amwins, a global distributor of
specialty insurance products and services, announced it signed a
definitive agreement to acquire Connected Risk Solutions, LLC, the
wholesale E&S insurance brokerage operated by publicly traded
insurance distribution firm BRP Group, Inc. ("BRP") (Nasdaq:
BRP).
"We are pleased that the Connected Risk Solutions team is
joining the Amwins' Brokerage team so that we can collectively
leverage our expertise, particularly in the specialty areas of
healthcare and cyber," said Jeff
McNatt, President of Amwins Brokerage. "We loved working
with a valued client, BRP, on this transaction and look forward to
expanding our relationship with them as we both grow in our focus
areas."
"BRP has had a preferred and trusted wholesale trading
relationship with Amwins for many years and we believe Amwins will
be a fantastic home for all of our Connected Risk Solutions clients
and colleagues," said Trevor
Baldwin, Chief Executive Officer of BRP.
"The sale of Connected Risk Solutions to Amwins is a
continuation of BRP's efforts to focus on our core retail and MGA
insurance businesses and streamline our operations. We appreciate
all that our Connected Risk Solutions colleagues have done for our
clients and how they have grown the business. We think this is a
great next step for both BRP, Amwins and those colleagues who
will continue to share their expertise and create opportunities for
clients."
Connected Risk Solutions was formed in January 2020 via BRP Group's acquisition of
Highland Risk Services, LLC and subsequent combination with AB Risk
Specialist, LLC and KB Risk Solutions, LLC.
With this deal, Amwins will gain approximately 40 Connected Risk
Solutions colleagues, primarily located in Atlanta and Chicago.
With the largest specialty insurance distribution platform in
the industry, Amwins Brokerage serves retailers by constantly
collaborating to share knowledge and solutions across teams and
divisions.
The transaction is subject to customary closing conditions and
is expected to close on March 1,
2024.
About Amwins
Amwins is the largest independent wholesale distributor of
specialty insurance products in the U.S., dedicated to serving
retail insurance agents by providing property and casualty
products, specialty group benefit products, and administrative
services. Based in Charlotte, NC,
the company has 7,300 employees, operates through more than 155
offices globally and handles premium placements in excess of
$33 billion annually. For more
information, please visit www.amwins.com.
About BRP Group, Inc.:
BRP Group, Inc. (NASDAQ: BRP) is an independent insurance
distribution firm delivering tailored insurance and risk management
insights and solutions that give clients the peace of mind to
pursue their purpose, passion and dreams. The firm is innovating
the industry by taking a holistic and tailored approach to risk
management, insurance, and employee benefits, and support for
clients, colleagues, insurance company partners and communities
through the deployment of vanguard resources and capital to drive
growth.
BRP Group, Inc. represents more than two million clients across
the United States and
internationally. For more information, please visit
www.baldwinriskpartners.com.
AMWINS PRESS
Lisa Kuszmar, Senior Vice President,
Marketing
Amwins
704.749.2780 | lisa.kuszmar@amwins.com
BRP PRESS
Anna Rozenich, Senior Director,
Enterprise Communications
Baldwin Risk Partners
630.561.5907 |
anna.rozenich@baldwinriskpartners.com
BRP INVESTOR RELATIONS
Bonnie Bishop, Executive Director,
Investor Relations
Baldwin Risk Partners
813.259.8032 | IR@baldwinriskpartners.com
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SOURCE Amwins