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.
Was this article valuable?
Here are more articles you may enjoy.
Should Parents Be Responsible for Kids Getting Hurt and Killed on E-Bikes? 
Lawsuit Alleges TWIA Fraudulently Reduced Claim Estimates From Hurricane Beryl 
Progressive Boosts Exposure With Football Field Logos at 13 Universities 
The Great Modern Train Robbery: Thieves Steal $200 Million a Year From This Issue
