Universal North America Insurance Company, with corporate offices in Texas and Florida, has agreed to acquire the renewal rights to approximately 11,500 policies from the personal lines portfolio of Canton, Mass.-based Houston General Insurance Exchange.
The acquisition includes homeowner and auto policies in Arizona, South Carolina and Texas. Policies will begin transferring to Universal North America in mid-March on their effective renewal dates.
Universal North America President Rick Espino said transitioning the policies will be a seamless process, adding that the company has completed similar acquisitions involving more than 135,000 policies over the past four years.
Universal North America, began writing policies in Florida in 2004, entered the Texas market in 2005, South Carolina last year, and recently Arizona and Nevada. Universal North America’s parent company, Universal Group Inc., is an A.M. Best “A” (Excellent) rated carrier with more than $250 million in surplus.
Source: Universal North America Insurance Company, www.universalnorthamerica.com
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