CHARLOTTE, N.C.--(AmWINS Group, Inc. (“AmWINS”), a leading global distributor of specialty insurance products and services, announced today that it has partnered with two veteran insurance industry executives, Terry Younghanz and Richard Parks, to form a new managing general underwriter (MGU) focused on marketing and underwriting specialty insurance products on behalf of carrier partners.)--
“It's great to partner with a firm who understands the specialty insurance marketplace, values the importance of an independent distribution model and has the resources available to jumpstart this MGU”
Based in Kansas City, the MGU will primarily underwrite a broad mix of specialty commercial property and casualty exposures.
Terry Younghanz is the former President and Chief Executive Officer of Rockhill Insurance Group (“Rockhill”), which he founded in 2005 and successfully sold to State Automobile Mutual Insurance Company in February 2009. Prior to founding Rockhill, Terry held leadership and underwriting roles at St. Paul Surplus Lines Insurance Company, RLI Insurance Group and GE Insurance Solutions.
Richard Parks, former President of Rockhill’s Specialty Insurance Division, held P&L and portfolio management responsibility for the underwriting divisions including Construction, Healthcare, Environmental, Umbrella and Professional Lines. Richard also served on several executive committees at Rockhill including Risk, Strategic Planning, IT and M&A.
“It's great to partner with a firm who understands the specialty insurance marketplace, values the importance of an independent distribution model and has the resources available to jumpstart this MGU,” said Younghanz. “Throughout our careers, Richard and I have focused on underwriting specialty, hard-to-place insurance products through our valued distribution relationships. We look forward to serving the needs of our distribution partners and working with insurance carriers to profitably underwrite and distribute their products.”
“We are extremely excited that Terry and Richard have chosen to partner with AmWINS,” said M. Steven DeCarlo, CEO of AmWINS. “They have a track record of building great businesses and they are a great complement to our Underwriting Division’s existing capabilities.”
AmWINS Group, Inc. is a leading wholesale distributor of specialty insurance products and services with expertise across a diversified mix of property, casualty and group benefits products. With over 2,500 employees located in 18 countries, AmWINS handles over $7 billion in premium annually through our four divisions: Brokerage, Underwriting, Group Benefits and International.