New Jersey’s Palisades Safety and Insurance Association has taken a step to expand beyond auto insurance by acquiring the National Atlantic Holdings Corp., including its subsidiary, The Proformance Insurance Co.
Palisades is now the largest independent agency writer of automobile insurance in New Jersey.
Proformance and its agency force also sell personal umbrella coverage, a homeowner package, and a commercial auto product.
“The acquisition of Proformance provides Palisades and its independent agents with the opportunity to expand product offerings beyond private passenger auto. It also expands our network of agents and a pool of talented employees that will allow us to compete in a very competitive market for New Jersey customers,” said President and CEO Ed Fernandez.
Palisades will maintain a presence in Freehold, New Jersey as well as continue to operate from Berkeley Heights.
Palisades Safety is a Plymouth Rock managed company. The Plymouth Rock Companies write and more than $1 billion in personal and commercial auto and homeowner’s insurance across the Northeast
Source: Palisades
www.palisades.com
Topics Mergers & Acquisitions New Jersey
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