Agency Marketing Services to be Acquired by an Affiliate of Darwin Professional Underwriters
Agency Marketing Services to be Acquired by an Affiliate of DarwinProfessional Underwriters, with Management from Wolf Professional Risk of Tampa, FL
Agency Marketing Services (AMS), a privately owned, twenty-five year old professional liability program manager and wholesale insurance broker, is being acquired by EvolutionUnderwriting, Inc., a newly formed affiliate of Darwin ProfessionalUnderwriters, Inc. (Darwin) (NYSE: DR) of Farmington, Connecticut. In connection with the acquisition, Boyd Wolf and David Gough, currently principal members of Tampa’s Wolf Professional Risk organization, will assume leadership of AMS. The company’s founder and principal owner, Kevin C. Schuck,will remain with the business in a consulting capacity. Other terms of the acquisition transaction were not announced.
In announcing the transaction, which is expected to close before year-end,Mr. Schuck stressed that the Darwin – Wolf Professional team was chosen because it represents both a wealth of reliability and expertise, as well as an established commitment to excellence. He stated: “I believe that in Boyd Wolf and David Gough we’ve found the kind of leadership that AMS’ industry partners and their clients can rely on for continued high service standards.This transaction signals a renewed dedication to growth and innovation that will benefit both our own team here in Florida as well as the retailers throughout the Southeast with whom we do professional liability insurance business.”
On behalf of the acquiring entity, Boyd Wolf said: “David Gough and I value the business and the relationships that AMS has created over the past twenty-five years, and we’ll do everything in our power to build on the strong foundation we are inheriting here.”
About Agency Marketing Services, Inc.
AMS was formed by Kevin C. Schuck in 1982. The company is a full service wholesale facility specializing in all professional liability insurance products (architects/engineers, lawyers, medical malpractice, insurance agents, miscellaneous E&O, specified medical, employment practices, nonprofitD&O), and a variety of property/casualty products including GL, package,liquor, property, and products liability. AMS has dedicated underwriters and brokers for each line of coverage.