AmWINS and Colemont Global Group Establish Presence in South Korea Through Acquisition of CMK Insurance Brokers
Colemont Global Group, the International division of AmWINS Group, Inc., today announced that it has acquired a majority share of CMK Insurance Brokers Company Limited. Effective immediately, CMK Insurance Brokers will operate under the trade name Colemont Korea Insurance Brokers Limited ("Colemont Korea"). Terms of the transaction were not disclosed.
"Diversification continues to be a key part of our company’s strategy and continued growth," said M. Steven DeCarlo, CEO of AmWINS Group. "By establishing a presence in Korea, we are able to further expand our firm’s knowledge and expertise, thereby better servicing the needs of our clients and markets globally."
CMK Insurance Brokers, located in Seoul, Korea and led by Kyo-Joon Son, specializes in insurance and reinsurance solutions for the marine and construction industries.
"We are very excited to join AmWINS and the growing Colemont Global Group. This partnership presents a wonderful opportunity for me and my team to grow our customer relationships and capabilities with the support of Colemont's global expertise and market reach," said Mr. Son, Managing Director of Colemont Korea.
"We are pleased to welcome Mr. Son and his team to our global network. Developing a presence in Korea has been a key part of our strategy. With this acquisition, Colemont will now offer a complete range of insurance and reinsurance services to our Korean clients, delivering our global capabilities, locally," said Surinder Beerh, CEO of Colemont Global Group.