Dallas-based Republic Companies Group Inc. announced that certain of its member companies have reached an agreement in principal with American Vehicle Insurance Company, a wholly-owned subsidiary of 21st Century Holding Company, an insurance holding company.
The agreement in principal is subject to the parties entering into a definitive written agreement and American Vehicle providing the required security. This arrangement will enable American Vehicle to underwrite general liability business and other commercial lines in various states through member companies of The Republic Group.
Parker Rush, Republic’s president and CEO, commented, “This is an excellent opportunity for our Insurance Services and Corporate segment to grow its written premium, secured by a substantial irrevocable letter of credit. We are pleased to be able to provide access to our markets through our unique combination of licenses and charters.”
Source: The Republic Group
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