The Pennsylvania Insurance Department this week approved the pending deal by Israel’s Clal Insurance Enterprises Holdings to sell its U.S. unit to Berkshire Hathaway Inc.’s National Indemnity Co.
The deal to sell off Clal’s U.S. unit — Clal U.S. Holdings Inc. — to National Indemnity Co. for $221 million was announced last August.
Clal U.S. Holdings Inc., based in Wilkes-Barre, Penn., owns GUARD Insurance Group, which Clal purchased in 2007 for $120 million. GUARD Insurance Group offers small- to medium-sized commercial property and casualty accounts, with over $300 million in direct written premium as of year-end 2011.
The full decision and order, issued by Pennsylvania Insurance Commissioner Michael Consedine on Oct. 22, can be found on the insurance department’s website.
Topics USA
Was this article valuable?
Here are more articles you may enjoy.
Ex-CEO, Ex-CFO of Bankrupt AI Company Charged With Fraud 
State Farm Paid a ‘Hail’ of a Lot of Claims in 2025 
Chubb Q1 Net Income Increases 74% on Fewer Catastrophe Losses 
Florida Needs More – Much More – Wind Mitigation, Say Experts at OIR Summit 
