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.
Damaged Manhattan Tower Owner to Reconstruct 15 Floors After Evacuation 
Premiums Will Skyrocket by 2035; Discounts Not Enough for Wind Mit, Studies Say 
Fla. Supreme Court Reverses Lower Court on Compensability of a Workplace Shooting 
Robotaxi Riders Are Falling Asleep, Sparking Frantic 911 Calls 
