Vesta Insurance Group Inc., a Birmingham, Ala.-based holding company for insurance and financial service providers, announced that its Instant Insurance Holdings Inc. subsidiary has acquired two non-standard auto insurance wholesalers in Dallas, increasing the company’s annualized non-standard premium to more than $250 million. Vesta’s subsidiary bought the stock of Old American Investments Inc., a holding company for three managing general agencies, and acquired the assets of Harbor Insurance Group Inc.’s non-standard auto business. The two agencies are expected to generate about $70 million in non-standard auto premium in 2002. Terms of the transactions were not disclosed. Other companies acquired by Vesta recently include the Spacecoast agencies in Florida, the A-Affordable Insurance agency in Texas, and InsureOne in the Midwest.
Was this article valuable?
Here are more articles you may enjoy.
The $10 Trillion Fight: Modeling a US-China War Over Taiwan 
BMW Recalls Hundreds of Thousands of Cars Over Fire Risk 
Insurance Issue Leaves Some Players Off World Baseball Classic Rosters 
Munich Re Unit to Cut 1,000 Positions as AI Takes Over Jobs From This Issue
