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April 17, 2012

AmWINS Group, Inc. Partners with New Mountain Capital

Growth‐oriented recapitalization of the global specialty insurance broker

Charlotte,  N.C.  April  17,  2012  –  AmWINS  Group,  Inc.  (“AmWINS”),  a  global  distributor  of  specialty  insurance products and services, announced today that its management and employee shareholders have  reached  a  definitive  agreement  to  partner  with  New  Mountain  Capital  (“New  Mountain”)  in  a  growth‐oriented recapitalization valued at approximately $1.3 billion. Other terms of the transaction were not disclosed.

Headquartered in Charlotte, N.C., AmWINS is a leading specialty insurance broker placing over $7 billion of  premiums  through  its  relationships  with  more  than  16,000  retail  brokerage  firms  and  more  than  1,000 insurance carriers. AmWINS’ expertise covers a wide range of specialty insurance products and services in the property/casualty and group benefits insurance marketplace. With over 2,300 employees in 87 offices located across 21 countries, AmWINS’ deep industry knowledge and capabilities, extensive geographic  reach  and  independent  relationships  with  insurance  carriers  and  retail  insurance  brokers  allow it to serve as a critical intermediary in the complex and highly fragmented specialty insurance market.

“This new  partnership allows AmWINS  to continue its growth  trajectory both  organically and through  strategic acquisitions,” said M. Steven DeCarlo, CEO of AmWINS. “As we celebrate our 10 year anniversary  this  year,  we  are  very  pleased  to  partner  with  New  Mountain  Capital  as  we  begin  this  exciting next chapter in AmWINS’ global development. This transaction demonstrates the value of the AmWINS  industry‐leading  platform  and  is  a  testament  to  our  employees’  hard  work,  dedication  and  commitment to building our business and focusing on our customers. We are confident that New Mountain will be a value added partner as we focus on the growth and innovation initiatives that have made AmWINS’ first decade such an outstanding success.”

“New Mountain has had a longtime effort in the insurance sector, and we are delighted to become a long‐term partner with AmWINS, the clear leader in the specialty insurance distribution market,” said Alok Singh, Managing Director at New Mountain Capital. “We first began partnership discussions with Steve DeCarlo, Skip Cooper, Scott Purviance and the rest of the AmWINS team over a year ago, and we believe they have built a best‐in‐class firm that is well positioned to continue its outstanding history of growth and success. AmWINS has established a reputation for specialty insurance knowledge, superior service, world class technology and an outstanding culture. We look forward to working closely with the company  as  it  continues  building  and  expanding  the  industry’s  leading  independent  specialty  distribution platform for insurance and benefits products and services.”

The  transaction  also  completes  a  successful  partnership  between  AmWINS  and  Parthenon  Capital  Partners. “We have greatly enjoyed working with AmWINS and are proud to have contributed in building the industry’s leading franchise,” said Brian Golson, a Managing Partner at Parthenon Capital Partners. “Partnering with world class companies to achieve significant growth is what we aim to do – and working with Steve DeCarlo and the AmWINS team has been a shining example of this strategy.”

DeCarlo noted that employee shareholders will continue to own more than 30 percent, valued at over $160 million, of AmWINS equity at the conclusion of the recapitalization. There will be no changes to AmWINS’ senior management, local management or operational teams as a result of this transaction.

Subject to customary regulatory approvals and closing conditions, the transaction is expected to close within  the  next  60  days.   Financial  Technology  Partners  LP,  Goldman,  Sachs  &  Co.  and  Willis  Capital  Markets & Advisory acted as financial advisors to AmWINS. Credit Suisse and Macquarie Capital acted as financial advisors to New Mountain.

About AmWINS Group, Inc.

AmWINS Group, Inc. is a leading wholesale distributor of specialty insurance products and services with expertise across  a  diversified  mix  of  property,  casualty  and  group  benefits  products.  AmWINS  also  offers  value‐added  services to support some of these products, including product development, underwriting, premium and claims administration and actuarial services. With over 2,300 employees located in 21 countries, AmWINS handles over $7  billion  in  premium  annually  through  its  four  divisions:  Brokerage,  Underwriting,  Group  Benefits  and  International. For more information, please visit www.amwins.com.

About New Mountain Capital LLC

New  Mountain  Capital  is  a  New  York‐based  private  equity  firm  that  emphasizes  business  building  and  growth,  rather than debt, as it pursues long‐term capital appreciation. The firm currently manages private and public equity  funds  with  approximately  $9  billion  in  aggregate  capital  commitments.  New  Mountain  seeks  out  the  highest‐quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information, please visit nmcapdev.wpenginepowered.com.

About Parthenon Capital Partners

Parthenon  Capital  Partners  is  a  leading  mid‐market  private  equity  firm  based  in  Boston  and  San  Francisco.  Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in service industries. Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing new executives. Parthenon has particular expertise in business services, financial and insurance  services  and  healthcare,  but  seeks  any  service,  technology  or  delivery  business  with  a  strong  value  proposition and proprietary know‐how. For more information, please visit www.parthenoncapitalpartners.com.