AmWINS buys insurance wholesaler Bliss & Glennon, eReinsure

AmWINS Group Inc. has reached definitive agreements to acquire excess and surplus lines wholesale insurance broker Bliss & Glennon Inc. plus online platform eReinsure for managing the placement of facultative reinsurance, the Charlotte, N.C.-based firm said Tuesday.

Both companies are subsidiaries of Jacksonville, Fla.-based Fortegra Financial Corp., said a spokesman in a statement. Terms of the transaction were not disclosed.

Bliss & Glennon, which was founded in 1965, has offices in six other states besides California, has longstanding relationships with retail clients and markets, a growing transactional brokerage business, and a broad array of binding authority contracts, as well as a strong management team, AmWINS said in the statement.

“Partnering with AmWINS allows us to continue providing our clients with the service they have come to expect, and we anticipate these relationships will only get stronger with the added access to resources that AmWINS is known for,” said Robert Abramson, president of Bliss & Glennon, in a statement. “Our employees also benefit from the stability and support that comes with joining such an established and respected team.”

Redondo Beach, Calif.-based Bliss & Glennon was ranked as the 10th largest property/casualy wholesaler in 2013 by Business Insurance. AmWINS was ranked No. 1.

AmWINS’ other acquisition was Salt Lake City-based eReinsure, which AmWINS said provides Internet-based technology solutions for managing reinsurance transactions including the negotiation and placing process, data management and analysis, compliance, integration and automation. In addition to Salt Lake City, the firm has offices in New York and London.

“AmWINS recognizes the many ways technology and service can provide a competitive edge and this, together with their commitment to maintain an independent, neutral platform that provides a secure and trusted environment to our clients, is what made this partnership so attractive,” eReinsure President and CEO Igor Best-Devereux said in the statement.