CHARLOTTE, North Carolina – (COMMERCIAL THREAD) – AmWINS Group, Inc. (“AmWINS”), a global distributor of specialty insurance products and services, today announced the acquisition of Group Benefit Services, Inc. and GBS Payroll Plus, Inc. ( collectively, Group Benefit Services, or “GBS”), one of the largest and most respected third-party employee benefits administrators in the Mid-Atlantic region.
Founded by Bill and Kathy Simmons in 1980 and based in Hunt Valley, Maryland, Group Benefit Services is a Third Party Administrator (TPA) and General Agent (GA) providing products and services to support the distribution, delivery and administration of social benefits and health care. services. Group Benefit Services is unique in that it offers employee benefit solutions to fully insured and self-insured groups.
“We are delighted to partner with Group Benefit Services,” said Steven DeCarlo, CEO of AmWINS. “Bill, Kathy and the entire GBS team have built a reputation as a trusted benefits advisor and, as part of our group insurance division, will allow us to further diversify our offerings to support brokers with clients. middle market employers.
“The addition of Group Benefit Services gives us the opportunity to expand our presence in the Mid-Atlantic while continuing to help our clients achieve their strategic benefits plan and financial goals,” said Samuel H. Fleet, President of AmWINS Group Benefits. “Through this partnership, we will also be able to enhance our mid-market self-funded product offerings as well as expand our fully insured product administration capabilities. This acquisition is a perfect complement to the capabilities of our existing group insurance division and helps us complement our full service solutions for our broker clients.
GBS, with more than 200 employees, represents more than 20 insurance companies while supporting more than 8,000 employer groups nationwide through its relationships with more than 800 benefit brokers.
“AmWINS is an industry leader with a wide range of products and capabilities, and we are confident that our employees, brokers, customers and business partners will benefit immensely from this combination,” said Kathy F. Simmons, Co-Founder and CEO of Group Benefit Services. “We are delighted to join the AmWINS family and look forward to expanding our geographic footprint by offering our products, services and technology solutions to the AmWINS national distribution network. ”
Terms of the transaction were not disclosed.
About the AmWINS Group, Inc.
AmWINS Group, Inc. is a leader in the specialty insurance distribution industry with expertise in a diverse line of P&C, group insurance and specialty insurance products. AmWINS also offers value added services to support its products, including product development, underwriting, premium / claims administration and actuarial services. For more information, please visit amwins.com or any of the company’s social media pages including Facebook, LinkedIn and Twitter.