Arch Capital Group Ltd. announced that it has entered into a definitive agreement to acquire Rock River Insurance Company, an approved excess and surplus lines insurer in 45 states and the District of Columbia and an admitted insurer in two other states. Rock River is a part of the Stevens Point, Wis.-based Sentry Insurance Group.
Under the terms of the agreement, the existing policies and other liabilities of Rock River will be reinsured or otherwise assumed by the seller, Sentry Insurance, which has an A.M. Best rating of “A+.”
The acquisition of Rock River will provide Arch Risk Transfer Services (“ART Services”), Arch Capital’s recently acquired insurance program and alternative market business, with the capability of writing excess and surplus lines business. The ART Services group of companies currently includes First American Insurance Company, an admitted insurer with licenses in 49 states and an A.M. Best rating of “A-.”
It is anticipated that Rock River will be owned by First American, which will increase First American’s surplus to over $50 million. Rock River will also provide the Arch Capital Group with an additional vehicle to access attractive underwriting opportunities which may arise from other insurance distribution businesses owned by Arch Capital.
Arch Capital Group Ltd. is a Bermuda-based, diversified financial services company with over $500 million in assets. The Arch Capital Group is engaged in a range of insurance and financial service activities through subsidiaries comprising its Arch Insurance Services division and the ownership of intermediaries, underwriting agencies, service providers and insurance companies.
Topics Mergers & Acquisitions Carriers
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