Amwins Purchases Wholesale Business from BRP Group, Inc.: Amwins

2024 MAR 12 (NewsRx) -- By a News Reporter-Staff News Editor at Mergers & Acquisitions Daily News -- Amwins, a global distributor of specialty insurance products and services, announced it signed a definitive agreement to acquire Connected Risk Solutions, LLC, the wholesale E&S insurance brokerage operated by publicly traded insurance distribution firm BRP Group, Inc. (“BRP”) (Nasdaq: BRP).

“We are pleased that the Connected Risk Solutions team is joining the Amwins’ Brokerage team so that we can collectively leverage our expertise, particularly in the specialty areas of healthcare and cyber,” said Jeff McNatt, President of Amwins Brokerage. “We loved working with a valued client, BRP, on this transaction and look forward to expanding our relationship with them as we both grow in our focus areas.”

“BRP has had a preferred and trusted wholesale trading relationship with Amwins for many years and we believe Amwins will be a fantastic home for all of our Connected Risk Solutions clients and colleagues,” said Trevor Baldwin, Chief Executive Officer of BRP.

“The sale of Connected Risk Solutions to Amwins is a continuation of BRP’s efforts to focus on our core retail and MGA insurance businesses and streamline our operations. We appreciate all that our Connected Risk Solutions colleagues have done for our clients and how they have grown the business. We think this is a great next step for both BRP, Amwins and those colleagues who will continue to share their expertise and create opportunities for clients.”

Connected Risk Solutions was formed in January 2020 via BRP Group’s acquisition of Highland Risk Services, LLC and subsequent combination with AB Risk Specialist, LLC and KB Risk Solutions, LLC.

With this deal, Amwins will gain approximately 40 Connected Risk Solutions colleagues, primarily located in Atlanta and Chicago.

With the largest specialty insurance distribution platform in the industry, Amwins Brokerage serves retailers by constantly collaborating to share knowledge and solutions across teams and divisions.

The transaction is subject to customary closing conditions and is expected to close on March 1, 2024.

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