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.
Viewpoint: The ‘Unbundled’ Insurer Emerges in Age of AI as Value Chain Fragments 
AI Models May Soon Self-Replicate Across Smart-Home Devices, Anthropic Warns 
TSMC Mulls Multibillion-Dollar Texas Site for More AI Chips 
A Timeline of Developments in AI Safety Since the Attack on Hugging Face 
