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AmWINS buys wholesale broker III Group in US

IBR Staff Writer Published 04 August 2015

US-based AmWINS Group has acquired The III Group, which includes Insurance Innovators, III of Maryland, Insurance Innovators of New Jersey, Innovators of New York and Insurance Innovators of New England.

Terms of the deal have not been disclosed.

The III Group is a managing general agent and wholesale broker, which is specialized in commercial property and casualty insurance and personal lines insurance.

AmWINS Group CEO Steven DeCarlo said: "The addition of The III Group marks yet another important achievement in the execution of our plan to establish and grow our AmWINS Access division."

Established in 1972 and based in Glenside of Pennsylvania, The III Group provides general liability, professional lines, commercial auto, property, contractors and personal lines insurance services.

Through its five locations, the firm offers wholesale brokerage, specialty programs and binding authority services to its clients.

The III Group president Michael Kravitz said: "After spending time with AmWINS, we were impressed with their commitment to technology and the capabilities they provide to their employees, retail clients and insurance markets."

With around 98 locations across 17 countries, AmWINS provides specialty insurance products and services to its customers.