Amwins has acquired Joseph Chiarello & Co., Inc., a managing general agent specializing in commercial insurance for businesses in the firearms industry. The company will become part of Amwins Underwriting, adding a new specialty segment to its program portfolio.
Founded in 1934, Joseph Chiarello & Co. is currently led by third-generation family members Joseph and Stephen Chiarello. The firm has specialized in firearms industry insurance for more than 40 years and serves more than 4,000 businesses nationwide.
Chiarello provides commercial package, umbrella and general liability coverage for firearms manufacturers, distributors and retailers, as well as shooting and hunting clubs, instructors, ammunition manufacturers and accessory companies. Its insurance programs are backed by A++ rated carriers, and the company has received an endorsement from the National Shooting Sports Foundation.
Ryan Armijo, president of Amwins Underwriting, said Chiarello brings specialized knowledge in a highly technical insurance market and fits Amwins’ strategy of expanding its underwriting capabilities through niche expertise.
For Chiarello, finding a long-term partner that could continue the family-owned agency’s legacy was an important consideration.
Joe Chiarello, co-president of Joseph Chiarello & Co., said Amwins shares the firm’s focus on specialty expertise and client relationships. He added that Amwins’ infrastructure will provide additional resources to support future growth and client service.
The acquisition gives Amwins additional underwriting and risk management expertise in a specialized commercial insurance segment while providing Chiarello with access to the resources of a larger specialty insurance organization.
Dowling Hales served as financial advisor to Joseph Chiarello & Co. on the transaction. Financial terms were not disclosed.
Information for this article was provided by Amwins. Views and claims expressed in this article are those of the source company and do not necessarily reflect the views of AgencyEquity.com. This article may have been edited with the help of AI.
