AmWINS Group , a US-based specialty insurance products and services provider, has completed the takeover of Atlantic Risk Specialists (ARS).
The acquired entity operates as a full-service wholesaler and managing general agent and includes firms, namely Atlantic Risk Specialists as well as ARS-Latiff.
ARS manages branches in New Jersey, New York, and Florida and specialises in underwriting complicated construction risks along with workers compensation and professional lines.
As per the agreement, ARS will become part of AmWINS’ Brokerage division and boost the acquirer’s property and casualty capabilities.
AmWINS CEO Scott Purviance said: “We’re excited to partner with Larry Maier, Margie Kessler, Diana Latiff, Brian Wagner, and their team of brokers and underwriters.
“The addition of Atlantic Risk Specialists not only broadens our placement capabilities, but also expands our ability to offer innovative solutions to our retail clients and enhances the distribution footprint for our market partners.”
Atlantic Risk Specialists CEO Larry Maier said: “In joining AmWINS, we are partnering not only with a leader in our industry, but also with a team that shares our fundamental commitment to providing the best possible service and support to retail brokers and their clients.”
AmWINS Group offers property and casualty products, specialty group benefit products and administrative services through more than 115 offices across the globe. The company’s manages more than $16bn in premiums per annum.