American Safety Insurance Group, based in Bermuda, has purchased Trafalgar Insurance Co., an Oklahoma excess and surplus lines carrier with authority to write in 34 states and the District of Columbia. Trafalgar’s stock was acquired from Houston Casualty Co. for a purchase price of $16.3 million, and Trafalgar had, at closing, in excess of $15 million in capital and surplus. Prior to closing, Trafalgar entered into a bulk assumption reinsurance agreement with Houston Casualty, under which Houston Casualty assumed all of Trafalgar’s prior and existing insurance business. Trafalgar has been renamed American Safety Indemnity Company.
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