AmWINS Insurance Group and Colemont Insurance Brokers are merging, creating a specialty insurance distributor that will place more than $4.8 billon in annual premium.

The combined company, with more than 1,800 employees, will operate under as AmWINS Group, based in Charlotte, N.C., officials said. Terms of the deal were not disclosed.

With the addition of Colemont Global Group, a worldwide insurance and reinsurance brokerage network, AmWINS makes its first foray into the international insurance marketplace.

“We have studied and evaluated many opportunities to grow our firm beyond the U.S. borders,” said Skip Cooper, president of AmWINS, in a statement. “The opportunity to build upon the international network and capabilities of Colemont Global Group is an exciting part of this combination.”

The combined company encompassing AmWINS and Colemont will have four divisions: AmWINS Brokerage, which distributes property, casualty, and financial services products through retail brokerage clients; AmWINS Underwriting, which is composed of several niche underwriting programs where the companies have contractual authority from various insurance carriers to underwrite, bind, issue and administer insurance policies on their behalf; AmWINS Group Benefits, which designs, distributes and administers specialty group insurance products through retail insurance brokerage clients; and Colemont Global Group, the company’s international division, which operates as a full service, worldwide insurance and reinsurance brokerage network headquartered in London with more than 25 offices located in 16 countries.

Collaboration expands ‘expertise’ to clients

Steven DeCarlo

“We are gratified and excited to bring the talent of AmWINS and Colemont together,” said M. Steven DeCarlo, CEO of AmWINS, in a statement. “Not only does this combination strengthen our geographic footprint, but more importantly, we have expanded the expertise and capabilities available to our clients. The combination results in broadened placement expertise, deepened collaboration and an overall ability to offer more solutions to our retail customers with an enhanced distribution system for our markets.”

DeCarlo will lead the combined organization, which will have access to more than 1,000 specialty lines markets and programs, as well as in-house underwriting facilities and group benefits products, officials said.

“From the beginning, the two firms have had similar cultures – strongly founded in being independent and doing what is best for the client,” said Gene Eisenmann, founder of Colemont. “Bringing the two firms together provides an opportunity to combine the best talent in the industry with access to the most diverse product solutions and unparalleled relationships with insurance carriers and markets.”

AmWINS Group, Inc. is the second largest wholesale distributor of specialty insurance products in the U.S., dedicated to serving retail insurance agents by providing property-casualty products, group insurance programs and administrative services. Based in Charlotte, N.C., the company operates through more than 45 offices across the U.S. and handles premium placements in excess of $3.5 billion dollars annually.

Colemont Insurance Brokers is ranked among the largest specialty insurance brokers in the U.S. Founded in 1992, the company is home to 700 insurance professionals across the globe, who together placed over $1.3 billion in gross premium last year.