Amwins, a wholesale specialty insurance broker, reports that it has acquired Joseph Chiarello & Co., Inc., a managing general agent (MGA) specializing in commercial insurance for the firearms industry.
Terms of the deal were not disclosed.
Chiarello will join Amwins Underwriting, adding a new area of expertise to the division’s project portfolio.
Headquartered in Summit, N.J., Chiarello provides commercial package, umbrella and general liability insurance to related businesses such as firearms manufacturers, distributors, retailers, hunting and shooting clubs, instructors, and ammunition and accessory manufacturers. The company has earned recognition from the National Shooting Sports Foundation for its institutional-grade risk assessment and claims management.
Founded in 1934 and now led by third generation family members Joseph and Stephen Chiarello, the company has built a strong reputation in firearms industry insurance over more than 40 years, servicing more than 4,000 businesses.
Headquartered in Charlotte, North Carolina, Amwins provides property and casualty products, professional group benefits and administrative services to retail insurance agents. Amwins has more than 138 offices worldwide and handles more than $49 billion in premium placements annually.
Dowling Hales acted as financial advisor to Joseph Chiarello & Co. in this transaction.
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