NU Online News Service, Sept. 9, 3:17 p.m. EDT
Charlotte, N.C.-based wholesale insurance broker AmWINS Group Inc. said its international division, Colemont Global Group, has acquired a majority share of Korea-based CMK Insurance Brokers Company Ltd.
Financial terms of the transaction were not disclosed.
The firm will operate under the name Colemont Korea Insurance Brokers Ltd.
CMK Insurance Brokers, located in Seoul, South Korea, and led by Kyo-Joon Son, specializes in insurance and reinsurance solutions for the marine and construction industries.
"Diversification continues to be a key part of our company's strategy and continued growth," said M. Steven DeCarlo, chief executive officer of AmWINS. "By establishing a presence in Korea, we are able to further expand our firm's knowledge and expertise, thereby better servicing the needs of our clients and markets globally."
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