US-based speciality insurance distributor Amwins has acquired National Truck Underwriting Managers (NTUM) to diversify offerings and widen reach.
The financial value of the deal was not disclosed.
Go deeper with GlobalData
The acquired firm is a truck insurance wholesaler, which offers primary liability, physical damage, and motor truck cargo package insurance solutions.
Amwins said that the acquired business will join its underwriting division.
NTUM is authorised to offer coverage in 46 states of the US with additional capability and access to cover larger fleets.
The acquisition of Minnesota-based NTUM will expand Amwins’ geographic footprint.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAmwins CEO Scott Purviance said: “This partnership provides us with the opportunity to enhance and diversify our delegated underwriting capabilities and transportation offerings.
“NTUM is the gold standard in service and expertise and we are proud to welcome Jim Jr., Justin, Jim III and the rest of their team to the firm.”
NTUM president Jim Joyce said: “As part of the Amwins family, we have the opportunity to expand our resources for both our employees and our clients.
“We look forward to continuing to serve our agents, producers and markets while offering the best possible quotes on qualified accounts and delivering superior service.”
In May this year, Amwins Group agreed to buy Colorado-based Equisure for an undisclosed sum.
Prior to that, Amwins purchased wholesale insurance broker Worldwide Facilities.
