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.
Vehicle Complexity Complicates Auto Valuation, Says JD Power 
Connecticut High Court: Injured Rental Car Occupants Covered for Uninsured Motorist 
NYC Mayor Eyes City-Run Insurance Program for Affordable Housing 
Viewpoint: Why Brokers Have Little to Fear and Everything to Gain From AI 
