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October 4, 2019

AmWINS to takeover Stealth Partner Group in Arizona

AmWINS Group , a distributor of specialty insurance offerings, has agreed to acquire Stealth Partner Group for an undisclosed amount.

Based in Arizona, Stealth Partner Group is a speciality general agent that specialises in medical stop-loss insurance.

Under the arrangement, Stealth’s operations will be merged with Stop Loss Insurance Services (SLIS), a unit of AmWINS Group, next year.

The merged entity will operate under the Stealth brand and will be co-led by Patricia Berridge and Harley Barnes. It will be part of AmWINS’ Group Benefits division.

Stealth co-founder Harley Barnes said: “The partnership between Stealth and SLIS will generate incredible value and opportunity for group benefits brokers and their clients.

“Together, our two firms will provide us with unique access to all of the leading stop-loss markets and enable us to build a wide range of other value-added capabilities that support our carrier partners, retail brokers, and their self-funded clients.”

AmWINS CEO Scott Purviance said: “As the number of self-funded employer groups continues to increase, the addition of Stealth significantly expands our ability to empower brokers to provide stop-loss and cost containment solutions to their self-funded clients.”

Subject to regulatory approval, the transaction is scheduled to be completed in the fourth quarter of this year.

In August, AmWINS purchased LISI, a California-based general agent (GA), as well as CoPower, a third-party administrator (TPA), to strengthen group benefits division.

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