Affirmative Insurance Holdings Inc., a producer and provider of personal non-standard auto insurance, announced the completion of a previously announced acquisition of the assets of IPA LLC, an underwriting agency with operations in Michigan.
The underwriting agency currently generates personal non-standard auto insurance premiums of approximately $20 million annually.
Affirmative paid $600,000 at closing to the owners of IPA, assumed certain liabilities for processing of claims and provision of customer service from existing business, and may pay up to an additional $1.3 million if certain performance criteria are met.
Topics Underwriting Michigan
Was this article valuable?
Here are more articles you may enjoy.
Older, Wealthier Renters Drive Changes in Insurance Needs 
Trump Administration Backtracks on Removing Ocean Sensors 
AM Best: Data Centers Pose Risks Beyond What P/C Industry Has Experienced 
To Carriers’ Relief: New Florida Rule Won’t Count Mediation Requests as Complaints 
