Berkley to Buy American Mining Insurance Co.

Insurance holding company W. R. Berkley Corp., based in Greenwich, Conn., is acquiring acquire CGH Insurance Group, the owner of American Mining Insurance Co.

American Mining, based in Birmingham, Alabama, has specialized in providing insurance protection to the mining industry since 1989.

The agreement, dated August 31, 2007, is subject to a number of conditions, including the approval of the Alabama Department of Insurance. Terms of the transaction were not disclosed.

Upon the closing of the transaction, Chandler F. Cox, Jr., American Mining’s current president and chief executive officer, and Dominick Giovannelli, its executive vice president and chief financial officer, will continue serving in those roles.

Source: W. R. Berkley Corp.

Topics Mergers & Acquisitions