Amwins acquires startup broker Plover Parametrics' book of business
By Henry Gale
April 16 - (The Insurer) – Amwins has acquired a portfolio of parametric insurance risks from startup brokerage Plover Parametrics, the companies said.
Brenden Beeg, previously Plover's senior vice president of broking, will continue to service the wholesale book of business after joining Amwins as vice president for alternative risk.
Plover was founded in 2022 and received early backing from venture capital accelerator Y Combinator. In May last year, it announced it had launched a specialty brokerage focused on parametric insurance.
"Since 2022, Plover has served the needs of its retail trading partners by expanding access to parametric products with technology and white glove services," the company said in a statement. "There has never been a more critical time to expand access to products for perils such as wildfire, flood and named storm. We are proud to have brought these innovative solutions to the retail market."
Plover added that the deal would allow its clients to benefit from Amwins' alternative risk capabilities. Amwins confirmed the transaction and declined to provide additional comment.
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