Amwins Closes Group Benefit Services Acquisition.
M2 EQUITYBITES-February 25, 2016-Amwins Closes Group Benefit Services Acquisition
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25 February 2016 - US-based specialty insurance products distributor Amwins Group, Inc has acquired US-based third party employee benefits administrators Group Benefit Services, Inc. and GBS Payroll Plus, Inc., the company said.
Group Benefit Services, Inc. and GBS Payroll Plus operate in the Mid-Atlantic region.
Founded by Bill and Kathy Simmons in 1980 and based in Hunt Valley, Maryland, Group Benefit Services is a third party administrator and general agent offering products and services to support the distribution, delivery and administration of employee benefits and healthcare services.
According to Amwins, Group Benefit Services is unique in that it provides employee benefit solutions to both fully-insured and self-insured groups.
GBS, with more than 200 employees, represents more than 20 insurance carriers while supporting in excess of 8,000 employer groups nationwide through its relationships with over 800 benefits brokers.
Terms of the transaction were not disclosed.
Amwins Group is in the specialty insurance distribution industry with expertise across a diversified mix of property, casualty, group benefits and specialty insurance products.
The company also offers value-added services to support its products, including product development, underwriting, premium/claims administration and actuarial services.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Feb 25, 2016|
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