AmWins buys Beacon Risk Strategies

American Wholesale Insurance Group Inc. has purchased Beacon Risk Strategies, a Seattle-based managing underwriter of excess-loss benefits insurance.

Beacon Risk Strategies, founded in 1999, markets products and services to protect companies and their health plans from catastrophic claims.

"The addition of Beacon Risk Strategies is a continuation of our initiative to strategically grow and diversify our group-benefits division," says Steven DeCarlo, chief executive of AmWins. "Beacon's stop-loss capabilities represent a new product offering for our company and will strongly complement our existing capabilities."

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Financial terms of the agreement weren't disclosed.

Charlotte-based AmWins provides property, casualty, group-life and health coverage as well as program administration and actuarial services to retail agents. The company has more than 35 offices nationwide.