Insurance
Home›Insurance›Industry & Deals›Amwins acquires firearms insurance MGA Joseph Chiarell…
Amwins acquires firearms insurance MGA Joseph Chiarello & Co.
The Summit, New Jersey-based MGA serves more than 4,000 firearms-industry businesses and provides commercial package, umbrella, and general liability coverage.
Amwins has acquired Joseph Chiarello & Co., a Summit, New Jersey-based managing general agent (MGA) focused on commercial insurance for the firearms industry, according to Coverager.
Joseph Chiarello & Co. was founded in 1934 and is led by third-generation family members Joseph and Stephen Chiarello. The MGA serves more than 4,000 businesses nationwide, covering firearms manufacturers, distributors, retailers, shooting clubs, instructors, and ammunition and accessory manufacturers with commercial package, umbrella, and general liability coverage.
The acquisition will bring Chiarello into Amwins Underwriting, with the goal of expanding specialty underwriting capabilities in a technical niche. Amwins Underwriting President Ryan Armijo said the deal reflects the kind of specialty expertise the company looks for as it grows its Underwriting division, and it will provide the Chiarellos a platform and resources to continue expanding their legacy.