Trucking news and briefs for Tuesday, Aug. 3, 2021:
Amwins, the largest independent wholesale distributor of specialty insurance products in the U.S., has acquired National Truck Underwriting Managers, Inc. ("NTUM"), a truck insurance wholesaler offering access to primary liability, physical damage and motor truck cargo package policies.
"This partnership provides us with the opportunity to enhance and diversify our delegated underwriting capabilities and transportation offerings," said Scott M. Purviance, CEO of Amwins. "NTUM is the gold standard in service and expertise and we are proud to welcome Jim Jr., Justin, Jim III and the rest of their team to the firm."
NTUM will join Amwins' Underwriting Division, complementing the services of Amwins Transportation Underwriters and working in conjunction with trucking industry specialists within the firm's Brokerage division.
With an ability to write coverage in 46 of the continental United States, NTUM focuses on accounts of up to 300 power units with the additional capability and access to cover larger fleets. Additionally, NTUM's location in Minnesota further expands Amwins' geographic footprint.
"As part of the Amwins family, we have the opportunity to expand our resources for both our employees and our clients," says Jim Joyce, Jr President of NTUM. "We look forward to continuing to serve our agents, producers and markets while offering the best possible quotes on qualified accounts and delivering superior service."
A special meeting of stockholders of NextGen Acquisition Corporation scheduled for August 18, and upon closing, Xos – a manufacturer of fully electric Class 5 to Class 8 commercial vehicles – will be listed on the NASDAQ under the new ticker symbol “XOS”.
