NU Online News Service, May 5, 2008, 4:09 p.m. EDT
An insurance wholesaler has scooped up a company that protects health plans against catastrophic risk.
AmWins Group Inc., Charlotte, N.C., has acquired Beacon Risk Strategies Inc., Seattle, a managing general underwriter of excess-loss benefits insurance.
Medical stop-loss is a new line for AmWINS, AmWINS says.
Beacon was founded in 1999 and can offer products in all 50 states, AmWINS says.
AmWINS is not saying how much it is paying for the firm.