North Carolina-based specialty insurance products distributor Amwins Group has agreed to purchase Colorado-based Equisure for an undisclosed sum.
Equisure focuses on equine as well as canine risks.
The deal, scheduled to be finalised later this month, is said to help Equisure clients gain access to a wider range of markets and products.
Commenting on the deal, Equisure president Diane Lesher said: “This relationship will help expand our reach and share our passion with more customers and markets.”
Amwins believes that the acquisition will strengthen its position as the industry’s “largest and most diversified specialty distribution firm”.
The firm currently offers property and casualty products, specialty group benefit products, as well as administrative services.
It manages more than $22bn in premium placements on an yearly basis and has over 125 offices worldwide.
Amwins CEO Scott Purviance said: “The addition of Equisure will extend our Underwriting division’s capabilities to a new, highly specialised segment of the market.
“We are excited to partner with such a long-standing, well-respected programme and look forward to working with Diane and her team to deliver equine and canine insurance solutions to our clients.”
This March, Amwins agreed to buy US-based wholesale insurance broker Worldwide Facilities.
The merged entity will have more than 155 offices across the US, staff strength of over 6,151 and more than $24bn in premium annually.
In December 2020, Amwins signed a deal to buy Bermuda-based P&C wholesale insurance/reinsurance broker International Specialty Brokers.