has agreed to sell
its auto business in select states to
Acted as exclusive financial advisor to Providence Mutual in its auto renewal rights sale. Providence Mutual announced it has entered into an agreement to allow for Plymouth Rock to provide auto insurance renewal offers to eligible Providence Mutual policyholders.
has announced an
affiliation with
Acted as exclusive financial advisor to Badger Mutual Insurance Company (“Badger”) in its announced affiliation with Rural Mutual Insurance Company (“Rural”). Rural and Badger, with a combined 227 years of providing farm, commercial and personal policies, are well-respected Wisconsin-based brands that each maintain an extensive breadth of industry knowledge, exceptional customer service, and deep community involvement. The affiliation is expected to generate long-term growth and stability for employees, agents, and policyholders. Rural adds its financial strength and AM Best A+ rating, seasoned staff, local agents, and operational excellence to the relationship. Badger contributes an experienced management team and independent agents with an expanded sales footprint in six states outside of Wisconsin. Both companies will continue to maintain their existing brand identities and Wisconsin headquarters with Rural in Madison and Badger in Milwaukee.
has agreed to sell its
personal lines business to
Acted as exclusive financial advisor to Columbia Insurance Group in the sale of its personal lines business to Safeco Insurance, a Liberty Mutual Company (“Safeco Liberty Mutual”). Under the agreement, Columbia will transfer its entire personal lines auto and umbrella lines business in eight states to Safeco Liberty Mutual, effective for renewals beginning January 1, 2025. Safeco Liberty Mutual will expand its agency footprint and customer base in Arkansas, Illinois, Iowa, Kansas, Missouri, Nebraska, Oklahoma and South Dakota, while Columbia will focus exclusively on commercial solutions going forward.
Acted as exclusive financial advisor to Southern Trust Insurance Company and Southern Specialty Underwriters (collectively “Southern Trust”). Headquartered in Macon, GA, Southern Trust, a provider of reliable coverage across the Southeast for over 50 years, announced the signing of a definitive agreement for a partnership with Arbour National. The significant investment will support the continued growth of Southern Trust, reinforcing its commitment to independent agents and policyholders across the Southeast.
As part of the agreement, Southern Trust will continue to operate independently in Macon, GA, led by Mr. Cole, who will remain a significant shareholder and board member. Founder Billy Anderson, who started the organization 55 years ago, will also continue as a board member and shareholder ensuring continuity of the company's unique culture. Arbour National will become the majority owner of both Southern Trust Insurance Company and Southern Specialty Underwriters, with Cole and Anderson as key partners. To support continued expansion and hiring, at closing Arbour National will contribute an additional $20 million to Southern Trust's surplus.
Acted as exclusive financial advisor to Everett Cash Mutual Insurance Company (ECM) in its acquisition of American Reliable Insurance Company’s Farm, Ranch and Equine business. American Reliable Insurance Company (ARIC) is a subsidiary of Global Indemnity Group LLC (GBLI), offering agricultural coverage through general and independent agents throughout the U.S. GBLI will receive approximately $85 million, including the release of capital currently supporting ARIC’s operations (over the course of the next 12 months). GBLI will receive $30 million for the sale of renewal rights and will receive an amount equal to surplus when ARIC is sold. Until ECM acquires American Reliable, ECM will be providing GBLI with 100% quota share reinsurance in respect of policies subject to the renewal rights agreement with ECM.
&
Acted as exclusive financial advisor to Granada Insurance Company and GIC Underwriters in their sale to an Investor Group. Granada Insurance Company is a Florida domiciled underwriter and GIC Underwriters is a licensed surplus lines agency and managing general agent, offering a broad suite of commercial products (together, the “Companies”). The Companies specialize in underwriting and distributing selected commercial insurance products catered to a targeted network of retail agencies across Florida and the southern U.S., with unmatched expertise in the growing Hispanic market. With a 35-year track record, the Companies have built a strong reputation through their commercial non-property focus.
Acted as exclusive financial advisor to Rider Insurance Co. in its sale to Plymouth Rock Assurance of New Jersey. Founded in 1971 Rider is currently the largest motorcycle insurance provider in New Jersey, and the only carrier serving the motorcycle community exclusively. Rider offers motorcycle insurance, ATV/UTV and Off-road vehicle insurance coverage in Delaware, Indiana, Maryland, Michigan, New Jersey, Pennsylvania, Ohio and Virginia.
Acted as the exclusive financial adviser to Auto Owners Insurance in its acquisition of Capital Insurance Group. Capital Insurance Group is a leading regional property & casualty underwriter, insuring personal lines and a wide range of commercial and agricultural businesses in California, Washington, Oregon, Nevada and Arizona. Based in Lansing, MI, Auto-Owners is a Fortune 500 multi-line insurance company that is represented by over 47,500 licensed agents in 26 states. This acquisition will expand Auto-Owners’ geographic reach with a premier west coast platform.
Acted as the exclusive financial advisor to Columbia Insurance Group (“CIG”) in its renewal rights sale of farmowners business to ECM Insurance Group. ECM Insurance Group, based in Everett, Pennsylvania, will acquire the renewal rights to all of CIG’s farmowners business. As part of the transaction, Missouri domiciled Citizens Mutual Insurance Company will merge into Everett Cash Mutual Insurance Company, the parent company of ECM Insurance Group. Columbia Insurance Group produced $15 million of farmowners related business in 2017.
Acted as exclusive financial advisor to Direct Auto Insurance Company in its sale to NI Holdings, Inc. Headquartered in Chicago, IL, Direct Auto underwrites specialty automobile insurance in the state of Illinois through independent agents. NI Holdings, Inc. is an insurance holding company, which fully owns Nodak Insurance Company. Nodak’s acquisition of Direct Auto furthers its goal of diversifying its business and expanding its insurance operations. Joe Fitzgerald, the President of Direct Auto, and one of the principal shareholders will continue to manage the Direct Auto insurance operations.
