Marietta, Pa.-based Donegal Group Inc. completed the previously announced acquisition of all of the outstanding capital stock of an affiliated company, Le Mars Mutual Insurance Co. of Iowa, following the conversion of Le Mars to a stock insurance company for approximately $12.5 million.
Le Mars operates as a multiline carrier in Iowa, Nebraska, Oklahoma and South Dakota. Personal lines coverages represent a majority of premiums written, with the balance coming from farm owners and mercantile and service businesses. Le Mars’ largest line of business is private passenger automobile liability and physical damage; other principal lines include homeowners and commercial multi-peril.
Donegal CEO Donald H. Nikolaus described the purchase as the first step in the company’s move to expand operations in the Midwest. Donegal subsidiaries had primarily operated in the mid-Atlantic and Southeast.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Eastern States’ Grocers Shut Online Systems After Cyberattack 
Florida Supreme Court Approves Board Certification in Insurance Law 
NYC Restaurants Shut Off Air Conditioning, Close on Sundays as Costs Surge 
World’s Largest Retirement Community Set to Borrow $180 Million for More Homes 
