Access Insurance Holdings Inc. of Atlanta has purchased Austin, Texas-based Century American Casualty Co. for an undisclosed sum. The acquisition provides Access with insurance licenses in 14 states, and increases its geographic reach from seven to 14 states.
Assets from the acquisition will serve as the foundation for newly formed Access Insurance Co. Access also operates five managing general agencies and four insurance service companies that provide claims administration and management, consulting and actuarial services and financing for property and casualty products.
“In our 10-year history, we have continued to look for ways to evolve and grow our business,” Michael McMenamin, Access CEO said. “By adding an insurance company to our business, we now have greater flexibility to design and underwrite our own insurance programs as well as continue to develop, grow and service programs with our insurance and reinsurance partners.”
Topics Mergers & Acquisitions Casualty
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