MarshBerry facilitates sale of BRP’s Connected Risk Solutions to Amwins

MarshBerry, an investment banking and consulting firm serving the insurance distribution and wealth management industries, has represented BRP Group on their sale of Connected Risk Solutions, the wholesale E&S insurance brokerage operated by BRP to Amwins. The transaction closed on March 1, 2024.

The sale of Connected Risk Solutions to Amwins aligns with BRP’s strategic goal to concentrate on its core retail and managing general agent (MGA) insurance businesses while streamlining operations. Connected Risk Solutions becomes integral in enhancing Amwins brokerage capabilities, particularly in the critical areas of healthcare and cyber insurance.

“Leveraging our strategic expertise, market insight, and unwavering dedication to our clients, we are proud to partner with BRP on their sale of Connected Risk Solutions to Amwins. This transaction not only allows BRP to focus on their core business but also enables Connected Risk Solutions and Amwins to leverage their collective expertise. We wish all three firms success in their future endeavors.” – Phil Trem, MarshBerry President – Financial Advisory.

Bottom Line: BRP Group is ranked 12th out of 20 in our category of non-affiliated insurance MGAs, having grown its premium by 51% from 2022 to 2023.