Alpharetta, Ga.-based ChoicePoint has acquired Danville, Calif.-based Insuratec Inc., a provider of lien holder and mortgagee notification services to the property and casualty insurance industry. Insuratec notifies automobile finance companies and mortgage lenders, on behalf of insurance clients, of material changes to insurance policies. Terms of the acquisition were not disclosed.
The Insuratec acquisition expands ChoicePoint’s Financial Institution Reporting System (FIRSt) service, created earlier this year with the acquisition of ELIOS Inc. FIRSt, with more than 100 customers, is part of ChoicePoint’s portfolio of Insurance Verification Services.
The transaction is not expected to have a material impact on ChoicePoint’s financial results. The company does not expect the acquisition to be dilutive to earnings.
Source: ChoicePoint
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
Q4 Global Commercial Insurance Rates Drop 4%, in 6th Quarterly Decline: Marsh 
Florida Insurance Costs 14.5% Lower Than Without Reforms, Report Finds 
AIG Underwriting Income Up 48% in Q4 on North America Commercial 
