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AmWINS to Acquire LISI and CoPower

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AmWINS Group Inc. has agreed to acquire LISI Inc. for a price that was not disclosed.

AmWINS is a large, Charlotte, North Carolina-based insurance distributor. It handles about $16 billion in insurance transactions per year.

LISI is a San Mateo, California-based general agency that has focused on distributing health insurance and related products, such as dental insurance.

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LISI was founded in 1977. It now has six offices, and relationships with about 8,000 brokers and two dozen carriers.

Beck Patel has been LISI’s chief executive officer since 2010. For the 2012-2013 plan year, sheserved as the chairman of a large nonprofit dental insurer, Delta Dental of California, for the 2012-2013 plan year.

AmWINS says it is also acquiring CoPower, an AmWINS benefit plan administration affiliate.

AmWINS hopes to close on the LISI and CoPower deals later this month.

Sherman & Company served as LISI’s financial advisor.


Scott Purviance, the CEO of AmWINS, said in a statement that his company sees acquiring LISI as a way to expand its group benefits presence into the state of California, and to gain a strong foothold on the West Coast.

AmWINS wants to build a national general agency platform, Purviance said.

Phil Lebherz, the founder and chairman of LISI, said the deal will help expand LISI’s reach.

A New Year Blog

Becky Patel began 2019 by posting a LinkedIn blog about signs of revitalization in the benefits market.

“The last few years have been filled with curveballs like grandfathering, grandmothering, the small group transitioning, and Zenefits coming and going,” Patel wrote. “Amidst all this moving and shaking, I also noticed quite a few consolidations by way of acquisitions; and it wasn’t only the usual suspects selling their agencies. They were successful, progressive, and well-established agencies.”

Patel wrote LISI was working to add new broker support technology. improve service, and do everything possible to help the affiliated brokers succeed.

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