Service Insurance Holdings Inc. (SIHI), parent of Texas-based workers’ compensation insurer, Service Lloyds Insurance Co., has acquired American Healthcare Indemnity Co. (AHIC), an Oklahoma-based insurer. The new entity will be rebranded as Service American Indemnity Co.
The acquisition is a step toward Service Insurance’s goal if expanding its business geographically. Service American Indemnity will be able write workers’ compensation insurance in up to 48 states, the company said. The new entity will also identify and introduce new programs that will create significant opportunities for growth and profitability.
The company said the acquisition will result in a planned pooling and reinsurance agreement under SIHI, and will result in the addition of significant new resources. The business will remain headquartered in Austin.
Service Lloyds is a Texas-owned and -operated carrier offering workers’ compensation to Texas employers since 1982, and in other jurisdictions more recently via strategic partnerships.
Source: SIHI
Topics Mergers & Acquisitions Texas Workers' Compensation Oklahoma
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