AmWINS Group, Inc. Announces Acquisition of The American Equity Underwriters, Inc and Debt Refinancing.

CHARLOTTE, N.C. -- AmWINS Group, Inc., the nation's largest and most diversified wholesale insurance broker, today announced the acquisition of The American Equity Underwriters, Inc. (AEU), a national provider of insurance programs for maritime employers with a special expertise in United States Longshore and Harbor Workers Compensation (USL&H) insurance. In connection with the acquisition, AmWINS entered into a new $432.5 million credit facility arranged by Wachovia Securities and Madison Capital.

Proceeds of the new facility were used to complete the AEU acquisition, refinance AmWINS' existing credit facilities and to fund a $100 million dividend to AmWINS existing shareholders, comprised primarily of AmWINS employees and Parthenon Capital, a San Francisco and Boston-based private equity firm. The new credit facility will provide AmWINS with additional capacity and flexibility to fund new strategic acquisitions.

Commenting on the completion of the AEU transaction, AmWINS' CEO, M. Steven DeCarlo, said, "This is a significant acquisition. AEU is one of the largest underwriters of USL&H coverage in the country, and their expertise will help continue to diversify our broad product offering and capabilities for our customers.

About AmWINS Group, Inc.

AmWINS (www.amwins.com) is a wholesale distributor of specialty insurance products dedicated to serving retail agents throughout the United States by providing property and casualty, group life and health, and program administration services. Based in Charlotte, NC, the company operates through more than 35 offices across the United States and handles premium placements in excess of $2.8 billion dollars annually, ranking as the country's largest wholesale insurance broker by Business Insurance magazine.