Independent Insurance Investments Inc. announced it has completed its acquisition of Omni Insurance Group.
Omni, an Atlanta-based auto insurance company for high-risk drivers, generated net written premiums of $174 million in 2005. The firm writes policies in more than 40 states and has about 250 employees and a network of independent agents.
Independent, an auto insurance firm also specializing in high-risk drivers, writes more than $220 million in annual direct premiums. Based in suburban Philadelphia, Independent has approximately 430 employees.
Independent acquired Omni from The Hartford Financial Services Group Inc. in a deal for about $100 million. The transaction was announced in July and closed last Thursday.
Topics Mergers & Acquisitions Carriers
Was this article valuable?
Here are more articles you may enjoy.
Zurich Insurance Profit Beats Estimates as CEO Eyes Beazley 
Former Broker, Co-Defendant Sentenced to 20 Years in Fraudulent ACA Sign-Ups 
Jury Finds Johnson & Johnson Liable for Cancer in Latest Talc Trial 
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
