Amwins Group Inc. said Wednesday it has completed a $1 billion recapitalization transaction with its existing shareholder group.
The Charlotte, North Carolina-based wholesaler said after completion of the transaction, the employee shareholder group will remain the largest single ownership group, with about 40% ownership of Amwins.
Amwins said in connection with the transaction, investors Dragoneer Investment Group LLC, Genstar Capital LLC and SkyKnight Capital LP, all of which are based in San Francisco, purchased $1 billion in equity from more than 375 Amwins employee shareholders and the Victoria, British Columbia-based Public Sector Pension Board.
Amwins ranked as the second-largest specialty intermediary based on 2022 results, according to Business Insurance’s ranking.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.