AmWINS Names Fleet as President of Benefits Unit

June 22, 2004

Charlotte, N.C.-based American Wholesale Insurance Group (AmWINS) appointed Samuel H. Fleet as president of its Group Benefits Division.

The company reported that in this newly created position, Fleet will work with the AmWINS’ Group Benefits businesses, which include National Employee Benefit Companies Inc. (NEBCO) and BrokerNetUSA, to help drive growth and profitability of their operations.

Additionally, he will define health and benefit product expansion strategies by drawing on his exceptionally strong relationships with primary and reinsurance markets in the U.S. and Bermuda.

“Sam has played a critical role within AmWINS as president of NEBCO,” said Steven DeCarlo, president and chief executive officer. “Through his efforts, NEBCO transformed from a small regional organization to one of the leading third-party administrators of innovative benefit programs in the country in less than a decade. Sam’s profound knowledge and understanding of the benefit sector, as well as his business and product development expertise make him a natural choice for this position. I am confident that he will provide the leadership and strategic insight required to execute planned growth initiatives.”

“I’m honored to be given the opportunity to direct AmWINS expansion efforts in the employee benefits sector,” Fleet said. “Leading this dynamic and diverse division will be truly rewarding. We are all committed to continuing the great momentum being achieved in the existing operations. However, our real opportunity will be to take the division to even greater heights.”

He continued, “During these times of increasing competition, decreasing margins and the perception that employee benefits are a commodity, it is imperative for employee benefit producers to differentiate themselves. Our mission is to provide benefit professionals with the tools to compete in this environment, solve complex client issues and win accounts.”

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