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.
Aon Adds to List of Brokers Suing Howden US for Alleged Poaching, Theft 
Former CEO of Nonprofit P/C Statistical Agent Sentenced for Stealing Millions 
Court Ruling Could Help Shed Light on Owners of Litigation Funders, Medical Clinics 
Catastrophe Bonds Linked to Wildfires Lose ‘Untouchable’ Status 
