American Wholesale Insurance Group Appoints J. Scott Reynolds as President of Its Specialty Underwriting Division.CHARLOTTE, N.C. -- American Wholesale Insurance Group (AmWINS), the nation's second largest wholesale insurance broker has appointed J. Scott Reynolds as President of its Specialty Underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. Division. In this role Reynolds will be responsible for all of American Wholesale's program operations and underwriting facilities. The division is comprised of several in-house binding authorities and six MGA (1) (Monochrome Graphics Adapter) A display adapter that employs Hercules Graphics, combining graphics and text on a monochrome monitor. (2) (Matrox Graphics Accelerator) A trade name used by Matrox Graphics Inc. facilities. These underwriting units provide property and casualty insurance coverages through retail agencies for specific industry groups and coverage types throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Reynolds, who brings over 19 years of industry experience to this position, has served as American Wholesale's Chief Actuary actuary One who calculates insurance risks and premiums. Actuaries compute the probability of the occurrence of such events as birth, marriage, illness, accidents, and death. since the company was formed in 2002. In this capacity he was instrumental in developing many of the programs and facilities in place within the division. Prior to joining the company, he worked at Royal & SunAlliance USA where he managed the finance and actuarial ac·tu·ar·y n. pl. ac·tu·ar·ies A statistician who computes insurance risks and premiums. [Latin departments overseeing the commercial division's MIS (1) (Management Information System) An information system that integrates data from all the departments it serves and provides operations and management with the information they require. and financial reporting, results analysis, actuarial pricing and analysis, and state filings. "Scott is a natural to take on this important role in our company" said Steven DeCarlo, AmWINS President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "His deep involvement with each of our program operations, his strong market relationships, and his proven success in program development make him the perfect choice to lead our underwriting division." "I am honored hon·or n. 1. High respect, as that shown for special merit; esteem: the honor shown to a Nobel laureate. 2. a. Good name; reputation. b. to have been chosen to take on this role," said Reynolds. "In the wholesale insurance marketplace, specialty programs are a benefit for our retailers who have needs for unique classes of business or product lines. The Specialty Underwriting Division is already comprised of several strong underwriting companies and facilities. My focus will be on supporting the expansion of our existing programs, maintaining strong underwriting integrity, and developing additional program facilities for our retail agency customers." "The Specialty Underwriting Division is one of our core business divisions along with Brokerage and Group Benefits. With over 30 programs in-house, this group provides unique yet critical solutions to our retail agents across the US. We are committed to continuing to expand our program offerings and to providing disciplined underwriting expertise to our carrier partners," said DeCarlo. About American Wholesale Insurance Group AmWINS (www.amwins.com) is a wholesale insurance organization dedicated to serving retail agents throughout the United States by providing property and casualty, group life and health, program administration services, and actuarial service capabilities. The company handles total premium placements of over $2.4 billion ranking as the second largest wholesale insurance broker in the United States by Business Insurance magazine. |
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