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 | [email protected]
BRP PRESS
Anna Rozenich, Senior Director, Enterprise Communications
Baldwin Risk Partners
630.561.5907 | [email protected]
BRP INVESTOR RELATIONS
Bonnie Bishop, Executive Director, Investor Relations
Baldwin Risk Partners
813.259.8032 | [email protected]
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SOURCE Amwins