ACCEPTANCE TO SELL P/C BUSINESSES

Acceptance Insurance Companies Inc., an insurance holding company providing agricultural risk management products and services throughout the U.S., agreed to sell two wholly owned insurance companies, Acceptance Indemnity Insurance Company and Acceptance Casualty Insurance Company, to McM Corporation, a Raleigh, N.C.-based insurance holding company. In addition, McM Corp. purchased a selected portfolio of the company’s property/casualty insurance programs managed and sold through retail and general agents. Acceptance also announced the sale of its farm and ranch, and flood insurance programs to American Re-liable Insurance Company of Scottsdale, Ariz.

Topics Property Casualty