Direct-Link Acquires $6M in Premium Business from Fireman’s Fund Direct

Direct-Link Insurance Services announced the acquisition of a major portion of Fireman’s Fund Direct’s personal lines property insurance portfolio, as that company exits the direct insurance market.

Under terms of the agreement, Direct-Link will acquire more than $6 million in potential policy premium business from Fireman’s Fund Direct, a wholly-owned subsidiary of Fireman’s Fund Insurance Co. Direct-Link will also assume all underwriting services of the run off for the portfolio.

A spokesman for Fireman’s Fund, one of the top 20 property-casualty insurers nationally, noted that the while the company made the strategic decision to exit the direct market, it will continue to emphasize its core personal and commercial lines business.

Fireman’s Fund’s parent company, Allianz A.G., of Munich, Germany, is one of the largest property and casualty insurers in the world. Allianz operates worldwide through 700 subsidiary companies with more than 180,000 employees.

Founded in 1999 by President and CEO James MacKenzie and other senior insurance executives, Direct-Link provides independent insurance agencies with alternative perpetuation and growth options, including equity realization through the purchase of personal lines and small commercial lines property casualty portfolios and portfolio management programs. The company is located in Pacific Palisades, Calif., and has an agency operations center in Toronto, Canada.

Topics Mergers & Acquisitions