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AmWINS to buy London insurance brokerage THB Group


CHARLOTTE, N.C.—AmWINS Group Inc. says it will acquire London-based insurance brokerage THB Group P.L.C.

Charlotte, N.C.-based AmWINS, the largest property/casualty insurance wholesaler in the 2011 Business Insurance ranking, said Monday that it would acquire 100% of the share capital of THB at 80.55 pence ($1.29) per share.

London-based THB is a wholesaler specializing in reinsurance broking and risk management services for accident and health, construction and engineering, marine and transport and professional risks, among other lines of business.

THB posted fees and commissions of £48.4 million ($77.8 million) for the 12 months ending Oct. 31, 2010, and profit before tax of £700,000 ($1.1 million) for the same period.

“We have done business with THB for many years and believe that we share many of the same fundamental values and business philosophies,” AmWins CEO M. Steven DeCarlo said in a statement.

“We look forward to completing the acquisition of THB as another important step in our international expansion strategy to deliver specialty insurance products to our global client base,” he added.