AmWINS makes Bermuda buy

AmWINS Group Inc. said Tuesday it has agreed to buy Hamilton, Bermuda-based International Specialty Brokers Ltd., a property/casualty wholesaler and reinsurance broker.

Charlotte, North Carolina-based AmWINS said ISBL will be part of AmWINS brokerage business and become AmWINS Bermuda on Jan. 1, 2021.

AmWINS said in its statement the acquisition will improve its access to the international marketplace and complement products offered by its alternative risk team, including catastrophic natural disasters, emerging risks and non-peril specific revenue protections.

Terms of the transaction were not disclosed.

AmWINS is the largest property/casualty wholesaler and specialty intermediary, according to Business Insurance’s most recent rankings.