Posted on 26 Jan 2012
Charlotte-based AmWINS Group, Inc. (“AmWINS”) is pleased to announce that it has completed its acquisition of THB Group plc ("THB").
THB, an independent insurance and reinsurance broker and risk management business, is based principally in the London insurance and reinsurance market, but serves clients and markets in the U.K. and internationally via its network of offices worldwide. The firm has been listed on the London Stock Exchange (AIM) since October 2002 until January 2012.
The acquisition further positions AmWINS as a leading international specialty insurance distributor placing over $6.7 billion in annual premiums. The company now has more than 2,300 employees in 21 countries worldwide. AmWINS is ranked by Business Insurance magazine as the largest wholesale broker in the U.S. based on premiums placed.
“We have held THB and its management team in high regard for many years and I am delighted to welcome them formally into the AmWINS family where we will use our combined product expertise, capabilities and relationships to better serve our business partners and become a global insurance leader,” said Steve DeCarlo, CEO of AmWINS Group, Inc.
“This is an exciting milestone in THB’s history and we are delighted and proud to be part of the AmWINS family,” said Frank Murphy, chief executive of THB Group. “A lot of work remains to be done and we look forward to working with AmWINS for the near and long-term future. This is just the beginning of a very exciting journey for all of us.”
In conjunction with the acquisition, Murphy will become President of AmWINS’ International division in addition to his existing role.