AmWINS Group, Inc. (“AmWINS”), a global distributor of specialty insurance products and services, announced today the acquisition of Private Client Insurance Group, LLC (“PCIG”), a leading wholesale broker that specializes in personal lines insurance for high net worth individuals.
“The addition of PCIG to AmWINS Access, our small accounts division, is yet another example of our stated strategy to make significant investments in this platform,” said M. Steven DeCarlo, CEO of AmWINS. “The placement of personal lines insurance, much like the placement of small commercial lines insurance, is about expertise, access to markets and speed of execution. As such, it only makes sense that we would strategically build the capabilities of AmWINS Access in both personal and commercial lines insurance.”
PCIG’s position as a leading wholesale producer as is evidenced by its national appointments with several of the industry’s largest carriers who specialize in high net worth personal lines insurance. Based in Florida, PCIG also has strong relationships with retail agents, helping them obtain access to markets they otherwise could not access. PCIG has expertise across multiple lines of business including high value homeowners, luxury and antique automobiles, yacht and marine, and private collections.
“Since its formation in 2009, PCIG has earned the trust of its agents and carrier partners as a valued advisor in the placement of high net worth personal lines coverage,” said Ray Celedinas, sole shareholder of PCIG. “I have a tremendous amount of respect for the AmWINS organization and am thrilled that the PCIG team is now part of an independent distribution platform that is completely focused on serving its retail clients and carrier partners.”
“AmWINS Access will benefit from the addition of PCIG’s highly respected team whose strong regional presence offers us the ability to strategically enhance and expand our relationships in the southeastern United States.” said David Lavins, Senior Vice President at AmWINS Group. “The PCIG team deepens our expertise in this large and growing high net worth personal lines segment, a strategic growth area of ours.”
“We are excited to join the AmWINS family, and about the ability to expand our product range with resources now available to us through this partnership,” said Kevin Madden, Senior Vice President of PCIG. “AmWINS is an industry leader, and we’re confident that our employees and our clients will benefit from this combination.”
Terms of the transaction were not disclosed.