Access Holdco Management, an Atlanta, Georgia, headquartered insurance managing general agency focused on the non-standard auto market, has purchased the Massachusetts non-standard auto insurance book of business of Occidental Fire & Casualty Company of North Carolina from Occidental’s parent, IAT Insurance Group (IAT).
Occidental, a diversified property and casualty insurance company, is part of the IAT Insurance Group. IAT is transitioning its directly produced auto book to Access through the sale, but will continue to act as the issuing carrier via its subsidiary, Occidental Insurance Company.
The Massachusetts book of business is approximately $35 million in annual premium and is distributed through a network of independent insurance producers. The purchase of the Occidental non-standard book furthers Access’ efforts to diversify its offerings to their producers and insureds.
Access is a full-service managing general agency that originates, underwrites and provides policy and claims management for their insurance company partners.
Over the past 22 years, Access has managed books of business for numerous insurance companies. In December of 2015, Access received a growth equity investment from Altamont Capital Partners (ACP), a middle market-focused private equity firm with experience investing within the insurance industry.
Going forward, Access is working alongside ACP to pursue opportunities to strengthen the Access book of business with targeted acquisitions.
Source: Altamont Capital Partners
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