Amwins, a specialty insurance products and services distributor, has entered a definitive deal to purchase Connected Risk Solutions.
Connected Risk Solutions is a wholesale E&S insurance brokerage.
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The acquisition is expected to enhance Amwins’ service offerings and expand its market reach.
Connected Risk Solutions, operated by publicly traded insurance distribution company BRP Group, was established in January 2020 through acquisitions and mergers.
Around 40 Connected Risk Solutions employees, primarily based in Atlanta and Chicago, joined Amwins as part of the acquisition.
Connected Risk Solutions has now become part of Amwins’ brokerage business.
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By GlobalDataAmwins Brokerage serves retailers by sharing knowledge and solutions across teams and divisions.
Amwins Brokerage president Jeff McNatt said: “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.
“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 CEO Trevor Baldwin said: “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.
“The sale of Connected Risk Solutions to Amwins is a continuation of BRP’s efforts to focus on our core retail and MGA [managing general agent] insurance businesses and streamline our operations.”
In July 2023, Amwins formed an alliance with MS&AD Insurance Group’s US-based subsidiary MSIG North America (MSIG NA).
As part of the alliance, MSIG NA agreed to provide underwriting capacity for more than 20 underwriting programmes offered by Amwins.
In February 2023, Amwins made a minority investment in the Australian start-up MGA incubator Rhodian.
This move was aimed at offering funds and fostering the development of the next generation of underwriting companies.
