AmWINS acquires Networked Insurance Agents
US-based global insurance distributor AmWINS Group has announced the acquisition of California-based Networked Insurance Agents, an insurance aggregator specialising in the standard lines insurance segment.
AmWINS CEO Steven DeCarlo said that the addition of Networked to its access division significantly expands the company's capabilities in small to mid-market accounts.
"We have invested heavily in this segment of our business in order to help solve our retail clients’ challenges with small business, and our partnership with George Biancardi and the entire Networked team represents a substantial broadening of our capabilities in the standard lines market," DeCarlo added.
George Biancardi, president and CEO of Networked, said: "Over the past 24 years, Networked has grown into the preeminent aggregation platform on the West Coast. Our partnership with AmWINS will enable us to get to the next level, as it offers us the ability to expand geographically, provides us with industry-leading E&S products, and gives us access to AmWINS’ technology, actuarial services, and deep analytical capabilities."
AmWINS Access, the small business division of AmWINS Group, is a nationwide binding authority for small property and casualty business.
"We have built our brand on helping our retail clients with specialty and hard to place accounts," said Ben Sloop, president of AmWINS Access. "Now, with the addition of Networked, we can offer our retailers a full range of placement solutions across both standard lines and E&S, including the ability for our retail clients to fully outsource placements and back office services to us."
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