Louisiana-based, Imperial Management Corp. (IMC), and Southport Lane LP announced that IMC has obtained all required regulatory approvals and closed its previously announced acquisition of National Automotive Insurance Co. (NAIC), an insurance company headquartered in Metairie, La.
NAIC specializes in providing personal auto insurance exclusively in Louisiana and predominantly within the New Orleans and Baton Rouge metropolitan areas.
The acquisition complements IMC’s strategy for organic growth and expansion throughout the Southern United States. The acquisition of NAIC will nearly double Imperial’s auto premium writings in Louisiana.
At closing, National Automotive Insurance Co. will operate as a subsidiary of IMC, joining Imperial Fire & Casualty Insurance Co., ABC Insurance Agencies and RAC Insurance Partners.
Source: Imperial Management Corp.
Topics Mergers & Acquisitions Louisiana
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