AmWINS acquiring specialty insurance broker Partners

AmWINS Group Inc. will acquire Partners Specialty Group L.L.C. in a deal that will create a firm with more than $14 billion in annual premiums, AmWINS said Wednesday.

Terms of the deal were not disclosed in the statement, and an AmWINS spokesman could not immediately be reached for comment.

The combined company will have more than 4,100 employees in more than 100 locations. The statement said Partners will become part of the AmWINS brokerage division. The acquisition is expected to be completed in 45-60 days.

Charlotte, North Carolina-based AmWINS is the largest independent wholesale distributor of specialty insurance products, while Partners is the ninth-largest specialty insurance broker, according to Business Insurance’s latest ranking.