AmWins Raises $7M

2/8/17

By Stephanie Lamm, NC BIZ News

American Wholesale Insurance Holdings Company LLC., a Charlotte-based private insurance wholesaler, raised nearly $7 million in equity, according to a Securities and Exchange Commission filing on Wednesday.

The company, known as AmWINS, offers small commercial and personal property, casualty, professional lines and specialty group benefits coverage and in-house underwriting.

According to a Form D filed by manager Scott Purviance, a total of 162 investors with a minimum investment of $25,000 bought into the $6,936,794 equity offering, which started Jan. 1.

AmWINS declined to comment when contacted Wednesday afternoon.

In the past 15 years, AmWINS has completed 40 acquisitions. The insurance wholesaler partnered with San Francisco-based Dragoneer Investment Group last November.

That transaction valued AmWINS at approximately $2.6 billion. More than 480 employee shareholders own 35 percent of the company.

In a statement issued in conjunction with the Dragoneer partnership, AmWINS CEO M. Steven DeCarlo said the deal signaled the company’s next phase in building a long-term capital base.

The company estimates it has more than $13 billion in annual premiums from its clients, which include 20,000 retail agencies and 75,000 individual agents.

AmWINS has 4,000 employees across 100 locations in 28 states and 12 countries including England, Brazil, Chile, Mexico, South Korea and The Netherlands. The company incorporated in 2000.

The Form D can be found here.

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