Amwins, a global distributor of specialty insurance products, has acquired NARDAC, a brokerage specializing in energy and infrastructure.
Prior to this, Amin made an initial investment in NARDAC in 2020 and recently purchased the remaining privately held shares.
According to the announcement, NARDAC’s specialist wholesale, reinsurance and underwriting services will be integrated into Amwins’ existing energy business.
The combined entity will be renamed Amwins Energy, Power and Infrastructure business unit, which will work with Amwin’s brokerage, global risk and underwriting divisions to deliver more than $1 billion in annual premiums.
Amwins’ Energy, Power and Infrastructure business provides retail brokers and their insureds with risk coverage in traditional energy systems, different power technologies, renewable energy and converged infrastructure.
NARDAC’s specialty projects, including community solar, battery energy storage systems (BESS) and severe convective storm coverage remain strategic strengths for the practice.
The renamed Amwins Energy, Power and Infrastructure business will be co-led by Ben Abernathy, Rob Battenfield and Jatin Sharma, who will continue to manage their respective teams and businesses.
Rob Battenfield, executive vice president at Amwins Brokerage and co-head of Amwins’ energy, power and infrastructure business, commented: “As market demands evolve, we are excited to add NARDAC’s expertise to our business, creating more choice for our retail partners to access world-class solutions.
“Formalizing this structure into a broad range of global offerings, serving a significant portion of the energy and infrastructure market, will solidify Amwins’ position as a premier wholesale partner to retail brokers and underwriters.”
Jatin Sharma, executive vice president at Amwins Brokerage and co-head of Amwins’ energy, power and infrastructure business, said: “Generation, storage, transmission and AI infrastructure are increasingly interconnected.
“Molecules and electronics now create converging risks in the energy transition and the digital transformation of the global economy. This requires deep expertise and understanding of evolving asset risks, as well as an entrepreneurial approach to innovate customized policies and solutions.”
Sam Baig, president of Amwins Brokerage, added: “Amwins’ power and energy products provide a broad specialist platform for allocation across traditional and new converged assets. With NARDAC fully integrated into the practice, we are further solidifying our position as a leading provider of innovative specialist risk transfer in the infrastructure and renewable energy sectors.”
Amwins’ Energy, Power and Infrastructure business will operate across the United States and out of Amwins’ global risk office in London.
