AmWINS Group, Inc. Announces Acquisition of Beacon Risk Strategies
AmWINS Group, Inc., one of the nation’s largest and most diversified wholesale insurance distribution firms, today announced the acquisition of Beacon Risk Strategies, a Seattle-based managing general underwriter of excess-loss benefits insurance.
“The addition of Beacon Risk Strategies is a continuation of our initiative to strategically grow and diversify our Group Benefits Division,” said Steven DeCarlo, AmWINS Group’s CEO. “Beacon’s stop-loss capabilities represent a new product offering for our company and will strongly complement our existing capabilities.”
Founded in 1999, Beacon Risk Strategies provides customized products and services to protect companies and their health plans from unexpected catastrophic claims. Beacon represents several carriers and can offer products in all 50 states, giving them the unique ability to provide innovative and tailored packages to Blue Cross/Blue Shield plan markets and large self-funded employers.
“We’re excited to have found another firm that fits so well into our company and enhances our strong portfolio of benefits services,” said Sam Fleet, President of AmWINS’ Group Benefits Division. “The synergies between Beacon and AmWINS Group Benefits will provide immediate benefit and opportunities to our broker customers.”
“Joining AmWINS makes terrific sense,” said Wright Dickinson, Beacon Risk Strategies’ President. “Combining our underwriting expertise and long-standing carrier relationships with AmWINS’ national retail client network and existing product solutions allows us to instantly build new relationships and bring new services to our existing customers. We are excited about this transition and look forward to becoming part of AmWINS.”