AmWINS to acquire specialty general agent Stealth Partner Group

AmWINS acquisition of Stealth Partner Group : US insurance broker AmWINS Group, which distributes specialty insurance products and services, has agreed to acquire Arizona-based Stealth Partner Group for an undisclosed price, as per the latest insurance acquisition news.

Stealth Partner Group is an independent full-service general agent (GA) that specializes in medical stop-loss insurance. Headquartered in Scottsdale, Stealth Partner Group has seven regional sales offices across the US.

Founded in 2009, the insurance general agent works with brokers, consultants, and third-party administrators (TPAs) for negotiating, implementing, and assisting in managing medical stop loss and ancillary benefits with the top-tier carriers in the US.

According to AmWINS Group, Stealth Partner Group will merge with one of its subsidiaries – Stop Loss Insurance Services (SLIS) in early 2020 to create a premier stop-loss insurance general agency in the US.

The enlarged stop-loss insurance general agency will operate under the Stealth Partner Group. It will be headed by Patricia Berridge and Harley Barnes and will come under AmWINS’ Group Benefits division. Patricia Berridge and Harley Barnes will be focused on combining the best of both companies to offer high-quality products and services to retailers and their self-funded clients, said AmWINS Group.

AmWINS acquisition of Stealth Partner Group. Image courtesy of Stuart Miles/Freedigitalphotos.net.

Commenting on AmWINS acquisition of Stealth Partner Group, Scott M. Purviance – CEO of AmWINS, said: “We’re excited to partner with Patty, Harley, and the entire team at Stealth.

“As the number of self-funded employer groups continues to increase, the addition of Stealth significantly expands our ability to empower brokers to provide stop-loss and cost containment solutions to their self-funded clients.”

Dowling Hales served as financial advisor to Stealth Partner Group for the transaction.

AmWINS acquisition of Stealth Partner Group, which is subject to receipt of regulatory approval and meeting of customary closing conditions, is expected to be wrapped up in Q4 2019.

Harley Barnes – co-founder of Stealth Partner Group, commenting on AmWINS acquisition of Stealth Partner Group, said: “The partnership between Stealth and SLIS will generate incredible value and opportunity for group benefits brokers and their clients.

“We look forward to working with Rebecca Bocek, Gerry Gates and the entire team at SLIS. Together, our two firms will provide us with unique access to all of the leading stop-loss markets and enable us to build a wide range of other value-added capabilities that support our carrier partners, retail brokers, and their self-funded clients.”

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