Officials of Sun Prairie, Wis.-based General Casualty Insurance Companies announced the acquisition of Blue Ridge Insurance Company, headquartered in Simsbury, Conn. With this acquisition, Blue Ridge became General Casualty’s sixth regional office, the first outside of its 12-state Midwestern operating territory.
The acquisition process was approved by the State of Connecticut Insurance Department on March 30. President and CEO of General Casualty John Pollock stated that the acquisition will provide General Casualty with an opportunity to take a more prominent role in the U.S. insurance industry, increasing potential operating territory from 12 Midwestern states to a total of 26 states.
Blue Ridge writes business in Connecticut, New Hampshire, Maine, Maryland, Massachusetts, New Jersey, New York and Pennsylvania. In 2000, Blue Ridge wrote $150 million in direct net premiums, with 80 percent in auto and homeowners insurance. The company employs 200 people at its main office and in service offices in Connecticut, Massachusetts and New York.
Blue Ridge Insurance Company is a sister company of General Casualty under the Swiss-based Winterthur Insurance Group. The companies executed a legal transfer of Blue Ridge stock from Winterthur U.S. Holdings to General Casualty to complete the financial transaction April 1. Completion of internal integration of the two companies is expected to take up to two years.
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