AP NEWS
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.
PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

AmWINS Group, Inc. Completes Acquisition of The Flood Insurance Agency

March 4, 2019

CHARLOTTE, N.C.--(BUSINESS WIRE)--Mar 4, 2019--AmWINS Group, Inc. (“AmWINS”), a global distributor of specialty insurance products and services, is pleased to announce that it has completed the acquisition of The Flood Insurance Agency (“TFIA”), a Florida-based managing general agency that specializes in private market flood insurance.

The Flood Insurance Agency, operating as a Program Administrator for Lexington Insurance Company, provides access to Private Market Flood™, an alternative to the National Flood Insurance Program.

The addition of TFIA significantly expands AmWINS’ capabilities for flood products in both personal and commercial lines. In conjunction with AmWINS’ commitment to expanding its exclusive offerings, TFIA will soon release details of an exciting new commercial flood product which will be supported by AmWINS’ distribution network and backed by Lexington Insurance Company.

AmWINS offers a variety of P&C programs for specific product lines, industry segments, and business types. With decades of experience in highly specialized markets and industry niches, AmWINS underwriters have earned the trust of major carriers. AmWINS offers more than 60 in-house programs and binding authorities and underwrites over $1.8B in annual premium, through our Underwriting and Access divisions.

Terms of the transaction were not disclosed.

About AmWINS Group, Inc.

AmWINS Group, Inc. is the largest independent wholesale distributor of specialty insurance products in the United States, dedicated to serving retail insurance brokers by providing property and casualty products, specialty group benefit products and administrative services. Based in Charlotte, N.C., the company operates through more than 115 offices globally and handles premium placements in excess of $15.3 billion dollars annually. To learn more, visit www.amwins.com.

About The Flood Insurance Agency

The Flood Insurance Agency (TFIA), established in 1984 and located in Gainesville, FL, specializes in the distribution of private flood insurance throughout the United States. For over 25 years, TFIA has been at the forefront of the flood insurance industry. Now operating as a program administrator for Lexington Insurance Company, TFIA provides access to private market flood insurance as an alternative to the National Flood Insurance Program. The private flood insurance program now insures over $4.5 billion of property spread over 25,000 risks and has registered over 3000 independent agencies in 37 states to market the program. To learn more, visit www.floodinsuranceagency.com and www.privatemarketflood.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190304005515/en/

CONTACT: Lisa Kuszmar

AmWINS Group, Inc.

704-749-2780

Lisa.Kuszmar@amwins.com

KEYWORD: UNITED STATES NORTH AMERICA FLORIDA NORTH CAROLINA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: AmWINS Group, Inc.

Copyright Business Wire 2019.

PUB: 03/04/2019 07:50 AM/DISC: 03/04/2019 07:50 AM

http://www.businesswire.com/news/home/20190304005515/en