AmWINS Acquires Two MGAs for Nonstandard Auto Insurance, Technology Company

AmWINS Group Inc. said it has acquired American Southwest Insurance Managers Inc. and Excel General Agency Inc., both nonstandard automobile managing general agencies, and Oakwood Software Insurance Solutions LLC, a technology company.

ASIM is one of the largest and oldest independent managing general agents for nonstandard automobile insurance in Texas, AmWINS said in a statement. ASIM is able to serve as an independent third-party claims administrator through Statewide Claims Service, ASIM's in-house claims and appraisals division, it said. Excel is also a nonstandard automobile managing general agency servicing independent agents of Texas.

"The acquisition is a natural strategic fit for our existing operation (Newport General Agency) that also specializes in nonstandard auto," AmWINS spokesman William Nichols said in an e-mail. "We know the industry well, and we believe there are tremendous growth opportunities."

The acquisition also helps to diversify AmWINS' revenue and earnings, with diversification being a key tenant of its strategy, Nichols said.

ASIM has four divisions -- property/casualty brokerage, underwriting, benefits and international, with property/casualty brokerage still being its largest division, Nichols noted.

Oakwood provides a complete policy and claim administrations system to automobile insurance companies, managing general agencies and large independent agents. This purchase will give AmWINS a technology platform for the auto insurance sector, AmWINS said.

ASIM will continue to be led by Jim S. Whited and Debra Williams. Oakwood will continue to be led by Doug Hite and David Scruggs, with Scruggs also maintaining responsibility for the Excel business. Newport General Agency will continue to be led by Dennis DiCapua.

AmWINS has completed three acquisitions over the past year, said Nichols, including this one.

In September, Colemont Global Group acquired CMK Insurance Brokers Co. Ltd., establishing a presence in South Korea for AmWINS Group, Colemont's parent company. Seoul-based CMK is operating as Colemont Korea Insurance Brokers Ltd. and will continue specializing in the marine and construction industries (BestWire, Sept. 9, 2010).

(By Caroline Saucer, editor, BestWeek: [email protected])