CHARLOTTE, N.C.--(BUSINESS WIRE)--AmWINS Group, Inc. (“AmWINS”), a global distributor of specialty insurance products and services, announced today the acquisition of Insurance Innovators, Inc., III of Maryland, Inc., Insurance Innovators of New Jersey, Inc., Innovators of New York, Inc. and Insurance Innovators of New England, Inc., collectively known as “The III Group”, a managing general agent and wholesale broker specializing in commercial property and casualty insurance as well as personal lines insurance.
“We are excited to partner with Michael Kravitz, Rich Marburg and the entire III Group team,” said M. Steven DeCarlo, CEO of AmWINS. “The addition of The III Group marks yet another important achievement in the execution of our plan to establish and grow our AmWINS Access division.”
Founded in 1972 and based in Glenside, PA, The III Group specializes in general liability, professional lines, commercial auto, property, contractors and personal lines. The firm has five locations and serves its clients via The III Group’s wholesale brokerage, specialty programs and binding authority capabilities. The III Group will become part of AmWINS Access and will continue to provide its clients with the same expertise and service that they have become accustomed to over the years, and the relationships will be supplemented with additional products and resources available within AmWINS Group.
“By joining forces with The III Group, AmWINS Access will be able to expand our capabilities for personal and commercial lines,” said Ben Sloop, president of AmWINS Access. “At the same time, The III Group’s strong regional presence offers us the ability to enhance and expand our relationships in the northeastern United States.”
“After spending time with AmWINS, we were impressed with their commitment to technology and the capabilities they provide to their employees, retail clients and insurance markets,” said The III Group president Michael Kravitz. “This partnership gives us the ability to expand our product offerings and become part of a national distribution platform. We are confident that our employees and clients alike will benefit from this combination.”
Terms of the transaction were not disclosed.
About AmWINS Group, Inc.
Headquartered in Charlotte, North Carolina, AmWINS is a leader in the specialty insurance brokerage industry with offices in 98 locations across 17 countries, including 72 in the United States. The firm has expertise across a diversified mix of property, casualty, group benefits and specialty insurance products. AmWINS also offers value-added services to support its products, including product development, underwriting, premium/claims administration and actuarial services.
With more than 3,550 employees, AmWINS currently receives more than 675,000 submissions a year from retail insurance agents across the United States. AmWINS has twice been honored by the Charlotte Business Journal for being the region’s fastest growing company by dollar revenue growth, and it has become the industry’s largest specialty insurance distributor placing more than $10.8 billion in premium placements annually. For more information, please visit www.amwins.com.