Charlotte, N.C.-based wholesale broker AmWINS Group Inc. said ithas acquired Beacon Risk Strategies, a Seattle-based managinggeneral underwriter of excess-loss benefits insurance. Transactionterms were not released.
|AmWINS said Beacon Risk Strategies provides customized productsand services to protect companies and their health plans fromunexpected catastrophic claims.
|Beacon represents several carriers and can offer products in all50 states. The firm, founded in 1999, provides tailored packages toBlue Cross/Blue Shield plan markets and large self-fundedemployers, AmWINS said.
|According to the firm's Web site, it has offices in Seattle,Atlanta and Framingham, Mass.
|Sam Fleet, president of AmWINS' Group Benefits Division, saidthe acquisition would provide immediate benefit and opportunitiesto its insurance broker customers.
|Wright Dickinson, Beacon Risk Strategies' president, said thedeal would allow the firm to build new relationships and bring newservices to its existing customers.
|A spokesman for AmWINS declined to give additional detailsrelated to the size of the acquisition.
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