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.
How ‘Super Roofs’ Reward Insurers, Cat Bond Investors and Homeowners 
AIG to Pay Neal $2.7 Million to Cover Previous Firm’s Bonus 
Lawsuit Over Burger King’s Whopper Ads Set Back by Federal Judge 
US E&S Outlook No Longer Positive: AM Best 
