AmWINS Group, Inc. (“AmWINS”), a global distributor of specialty insurance products and services, is pleased to announce that it has completed the acquisition of Atlantic Risk Specialists (“ARS”), a full-service wholesaler and managing general agent comprised of two entities: Atlantic Risk Specialists, Inc. and ARS-Latiff, LLC.
ARS, which has offices in New Jersey, New York, and Florida, will become part of AmWINS’ Brokerage division and strengthen the firm’s property and casualty capabilities. ARS brings extensive expertise in difficult and complicated construction risks, including New York City contractors, as well as workers compensation and professional lines.
“We’re excited to partner with Larry Maier, Margie Kessler, Diana Latiff, Brian Wagner, and their team of brokers and underwriters,” said Scott M. Purviance, Chief Executive Officer of AmWINS. “The addition of Atlantic Risk Specialists not only broadens our placement capabilities, but also expands our ability to offer innovative solutions to our retail clients and enhances the distribution footprint for our market partners.”
This acquisition further reinforces AmWINS’ strategy and successful model of providing specialized products and diverse capabilities centered on insurance distribution and services, with a focus on delivering innovative solutions to its clients.
“In joining AmWINS, we are partnering not only with a leader in our industry, but also with a team that shares our fundamental commitment to providing the best possible service and support to retail brokers and their clients,” said Larry Maier, Chief Executive Officer of Atlantic Risk Specialists, Inc. “We look forward to adding our expertise in challenging risks to AmWINS’ already extensive product and program offering.”
“We’re pleased to join the AmWINS family and expand our product range with the resources now available to us through this partnership,” said Diana Latiff, Chief Executive Officer of ARS-Latiff. “We’re confident that our employees and clients will benefit from the combination of our two organizations.”
Terms of the transaction were not disclosed.
Source: Company Press Release