Arizona-based Trillium Management Services Inc. announced it will acquire Geneva Insurance Company Inc. of Indianapolis, Ind., in a transaction that is expected to close in December 2009.
Geneva was formed in 1999 by Ronald J. Glanzman its sole shareholder. The company provides personal automobile insurance with a concentration on nonstandard auto insurance in Indiana. Products include insurance coverage for liability to others for bodily injury and property damage, and for physical damage to an insured’s vehicle. It distributes products primarily through a network of independent agencies.
The acquisition is subject to regulatory approval. Philo Smith & Co. acted as exclusive agent and financial advisor to Geneva.
Bill Star, Trillium’s president and chief executive officer said the “transaction is consistent with Trillium’s niche business strategy of acquiring auto insurers with good underwriting results that write business in desirable geographic areas.”
Legal representation for Trillium was provided by Low & Cohen, PLLC and Geneva was represented by Mitchell Hurst Jacobs & Dick, LLP
Source: Philo Smith & Co.
Topics Mergers & Acquisitions
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