Plymouth Rock Assurance has agreed to expand its investment in the motorcycle insurance segment with the acquisition of Rider Insurance Company, subject to regulatory approvals.
A New Jersey-based motorcycle insurance carrier with $21 million in annual premiums, Rider Insurance was founded by a motorcycle enthusiast and has been committed to protecting fellow riders for nearly 50 years, according to a Plymouth Rock press release.
The acquisition creates an opportunity for Plymouth Rock to invest more deeply in the motorcycle insurance segment, while also allowing the company to market its auto and home insurance products to Rider customers, the release stated.
The transaction is subject to approval by the New Jersey Department of Banking and Insurance.
Source: The Plymouth Rock Group of Companies
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