AmWINS Group, a wholesale distributor of specialty insurance products and services, has acquired American Southwest Insurance Managers (ASIM), Excel General Agency (Excel) , and Oakwood Software Insurance Solutions (Oakwood).
Founded in 1990, ASIM is a managing general agents for non-standard automobile insurance in Texas. ASIM serves as an independent third party claims administrator to ensure an efficient, fair and proper claims experience.
With the acquisition of ASIM, Excel and Oakwood were also purchased by AmWINS. Excel is also a non-standard automobile managing general agency servicing independent agents of Texas.
Oakwood is a technology company that provides a complete policy and claim administrations system to automobile insurance companies, managing general agencies and independent agents.
With the purchase of Oakwood and the OSIS system, AmWINS has acquired an edge technology platform for the automobile insurance sector.
ASIM will continue to be led by Jim Whited and Debra Williams. Oakwood will continue to be led by Doug Hite and David Scruggs, with David also maintaining responsibility for the Excel business.
Newport General Agency, a subsidiary of AmWINS which also specializes in non-standard auto insurance, will continue to be led by Dennis DiCapua.
AmWINS CEO Steven DeCarlo said the acquisition of these companies further diversifies our revenue stream and expands our product capabilities and expertise.
ASIM chairman Jim Whited said AmWINS and ASIM share a common culture and vision centered on providing clients, markets and employees with a competitive edge, so it is extremely rewarding and exciting to join the AmWINS family.
Terms of the transaction were not disclosed.