The Atlantic Companies, also known as Atlantic Mutual, has sold its high-net-worth personal lines insurance business to The ACE Group of Companies for an undisclosed price.
The deal, expected to close in 30 days, gives ACE substantially all of the personal lines business of The Atlantic Cos., which is headquartered in New York City.
Atlantic Mutual specializes in writing a policy it called the Atlantic Master Plan, a product sold through independent agents, which covered the houses, cars, umbrella liability and personal property of affluent individuals and families.
The acquisition comes days after Bermuda-based ACE announced the $2.4 billion acquisition of Combined Insurance Co., and several other subsidiaries of Aon Corp.
Source: ACE Ltd.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
After Complaint, GEICO Agrees to Modify Cancellation Process That Uses AI 
USI Insurance Services Claims Ex-Broker Poached Clients for Own New Agency 
US P/C Insurers Post Biggest Q1 Underwriting Profit in 25 Years 
NC Jury Award for Workers Injured in Wall Collapse May be Largest in State History 
