Everett Cash Mutual Insurance Company
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.
