Accident Fund Insurance Company of America has entered into an agreement to purchase United Wisconsin Insurance Company, doing business as United Heartland, a New Berlin, Wis.-based workers’ compensation company. United Wisconsin Insurance Company is a wholly-owned subsidiary of WellPoint, Inc. It writes business in Illinois, Indiana, Iowa, Minnesota and Wisconsin.
The acquisition is part of a strategic complement to Accident Fund’s business in workers’ comp.
The agreement is slated to close by year-end pending necessary approval under the Hart-Scott Rodino Act, from the Wisconsin Office of the Commissioner of Insurance and the Michigan Office of Financial and Insurance Services.
Accident Fund Insurance Company of America, established in 1912 and headquartered in Lansing, Mich., is a wholly owned and independent operating subsidiary of Blue Cross Blue Shield of Michigan.
Topics Mergers & Acquisitions
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