Charlotte, N.C.-based wholesale broker AmWINS Group Inc. said it has acquired Beacon Risk Strategies, a Seattle-based managing general underwriter of excess-loss benefits insurance. Transaction terms were not released.
AmWINS said Beacon Risk Strategies provides customized products and services to protect companies and their health plans from unexpected catastrophic claims.
Beacon represents several carriers and can offer products in all 50 states. The firm, founded in 1999, provides tailored packages to Blue Cross/Blue Shield plan markets and large self-funded employers, 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, said the acquisition would provide immediate benefit and opportunities to its insurance broker customers.
Wright Dickinson, Beacon Risk Strategies' president, said the deal would allow the firm to build new relationships and bring new services to its existing customers.
A spokesman for AmWINS declined to give additional details related to the size of the acquisition.
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