HDI Global Insurance Company (HDI) has acquired Indiana Lumbermens Insurance Company (ILIC), a subsidiary of Pennsylvania Lumbermens Mutual Insurance Company (PLM). HDI has purchased one hundred percent (100%) of the shares of ILIC from PLM. The transaction closed on November 30, 2023. The parties have not disclosed the purchase price.
The acquisition of ILIC, which is widely licensed and holds a Treasury listing (T-listing), is a strategic move for HDI to broaden and strengthen its business products offering in the U.S. with the initial focus on surety. The acquisition will expand HDI’s U.S. footprint to two admitted carriers and one non-admitted carrier.
Topics Mergers & Acquisitions Carriers
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