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AmWINS seeking to raise $115M in IPO


CHARLOTTE, N.C.--AmWINS Group Inc. will seek to raise as much as $115 million in an initial public offering of common stock, the nation's largest wholesaler said in a Securities and Exchange Commission filing on Monday.

The Charlotte, N.C.-based wholesaler is currently owned by private equity firm Parthenon Capital L.L.C. and its employees.

Specifics of the IPO were not disclosed, although AmWINS said it is seeking to list its stock on the New York Stock Exchange under the symbol "AGI."

AmWINS' 2005 acquisition of Stewart Smith Group Inc. from Willis Group Holdings Ltd. helped propel the wholesaler to the top spot in Business Insurance's rankings of the largest wholesalers for the first time, with $2.81 billion in 2005 premium volume (BI, Sept. 11).