Amwins Acquires Joseph Chiarello & Co., Adding Specialized Firearms Industry Underwriting Expertise
Founded in 1934 and now led by third-generation family members Joseph and Stephen Chiarello, the company has spent more than 40 years building what is widely regarded as the gold standard in firearms industry insurance, earning the trust of a loyal, nationwide base of more than 4,000 diversified businesses.
"Chiarello has built the gold standard in a highly technical, often overlooked niche," said Ryan Armijo, president of Amwins Underwriting. "This acquisition reflects exactly the kind of specialty expertise we look for as we grow our Underwriting division, and we're excited to give Joseph and Stephen the platform and resources to keep expanding on that legacy."
Chiarello provides commercial package, umbrella and general liability coverage — backed by A++ rated paper — to firearms manufacturers, distributors, retailers, hunting and shooting clubs, instructors and related businesses such as ammunition and accessory manufacturers. The company's institutional-grade risk assessment and claims management have also earned it an endorsement from the National Shooting Sports Foundation.
“Finding the right fit to perpetuate our family-run business was paramount,” said Joe Chiarello, co-president, Joseph Chiarello & Co. “Amwins places the same value on specialty expertise and client relationships that we do, and their robust infrastructure will allow us to grow to support our clients in new and meaningful ways.”
This acquisition strengthens Amwins' ability to deliver differentiated solutions for retail brokers and their clients by supporting an organization with deep firearms industry knowledge, recognized expertise, and experienced leadership.
Dowling Hales served as financial advisor to Joseph Chiarello & Co. in connection with the transaction. Terms of the deal were not disclosed.
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About Chiarello
Founded in 1934, Joseph Chiarello & Co. is a specialty MGA dedicated exclusively to the firearms industry. Based in Summit, N.J., the company is widely recognized as a leader in designing commercial insurance solutions for firearms manufacturers, distributors, retailers, hunting and shooting clubs, instructors and related businesses. For more information, visit guninsurance.com.
About Amwins
Amwins is the largest independent wholesale distributor of specialty insurance products in the U.S., dedicated to serving retail insurance agents by providing property and casualty products, specialty group benefits, and administrative services. Based in Charlotte, N.C., the company operates through more than 138 offices globally and handles premium placements in excess of $49 billion annually. For more information, visit amwins.com.
Lisa Kuszmar
Amwins
+1 704-749-2780
email us here
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