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AmWINS Group Benefits Division Acquires Carolina Benefits Association: Deal Means Innovative New Product Offerings for Independent Brokers
September 10, 2007 Warwick, RI – AmWINS Group Benefits
Division, one of the nation’s leading distributors of
wholesale retiree and employee health benefits and professional
services, announced today that it has acquired Carolina Benefits
Association, a leading third party insurance and financial services
administrator for employers, individuals, associations and
businesses. The final terms of the acquisition were not disclosed.
“The addition of Carolina Benefits is in line with our overall strategy to expand and diversify our portfolio of product offerings and expertise for our customers,” said Sam Fleet, AmWINS Group Benefits Division President & CEO. “There already existed a natural synergy between the two companies and our new partnership will result in new products and increased solutions for a larger client base. This is not a case of opposites attracting. This is a very idealistic partnership.”
Carolina Benefits, based in Charlotte, N.C., is co-founded by Tim Vliet and Daryl Chapman. With over 25 years experience in the insurance industry, the owners fully understand the importance of providing high quality, effective, long-term health benefits to companies and individuals.
Throughout his career, Vliet worked with the Prudential Insurance Company and The Hartford, where he specialized in providing retiree life and disability benefits for the large and diverse customer bases of those two companies.
“We look forward to the possibilities and solutions this partnership offers in terms of meeting the needs of our clients and developing new products to meet changing needs of an ever-evolving market,” said Vliet. “We’re excited to be joining the AmWINS team to roll out a series of new, innovative custom products for a number of untapped markets.”
Chapman has held a myriad of positions during his 12-year career in the financial services industry, at companies including Marsh Inc., where he ran the third party administrative division. There he had profit and loss responsibility for a 500 person, $50 million, four site administrative unit. That unit provided health care administration and contracting for almost a million members in a combination of HMO, PPO and traditional fee for service settings.
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“The addition of Carolina Benefits is in line with our overall strategy to expand and diversify our portfolio of product offerings and expertise for our customers,” said Sam Fleet, AmWINS Group Benefits Division President & CEO. “There already existed a natural synergy between the two companies and our new partnership will result in new products and increased solutions for a larger client base. This is not a case of opposites attracting. This is a very idealistic partnership.”
Carolina Benefits, based in Charlotte, N.C., is co-founded by Tim Vliet and Daryl Chapman. With over 25 years experience in the insurance industry, the owners fully understand the importance of providing high quality, effective, long-term health benefits to companies and individuals.
Throughout his career, Vliet worked with the Prudential Insurance Company and The Hartford, where he specialized in providing retiree life and disability benefits for the large and diverse customer bases of those two companies.
“We look forward to the possibilities and solutions this partnership offers in terms of meeting the needs of our clients and developing new products to meet changing needs of an ever-evolving market,” said Vliet. “We’re excited to be joining the AmWINS team to roll out a series of new, innovative custom products for a number of untapped markets.”
Chapman has held a myriad of positions during his 12-year career in the financial services industry, at companies including Marsh Inc., where he ran the third party administrative division. There he had profit and loss responsibility for a 500 person, $50 million, four site administrative unit. That unit provided health care administration and contracting for almost a million members in a combination of HMO, PPO and traditional fee for service settings.
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