Professionals Group Inc. and Medical Assurance Inc. have agreed to combine to create the nation’s third-largest medical malpractice insurance firm. The cash and stock transaction is estimated to be worth $240 million.
The companies are expected to form a holding company, Medical and Professionals Assurance Inc., which will own the stock of Medical Assurance and Professionals Group. The group has combined total premium writings of $426 million and combined medical liability premiums of $281 million, making the combined company the No. 3 writer of health-care-professional and facilities liability insurance in the country.
Was this article valuable?
Here are more articles you may enjoy.
AIG’s Turnaround Under Zaffino Sets Stage for New Leadership 
NC Jury Award for Workers Injured in Wall Collapse May be Largest in State History 
Florida Court Says 2020 Law Gives ‘Very Broad’ Liability Immunity to Rideshare Firms 
Progressive Is Biggest Auto Insurer, Surpassing State Farm, Says S&P GMI 
