Alliance Mutual Insurance Company, headquartered in Greensboro, N.C., and United Heritage Financial Group, Inc., based in Meridian, Idaho, have reached a preliminary agreement under which United Heritage will acquire Alliance.
Alliance, founded in 1976, is a provider of property and casualty insurance throughout North Carolina through a network of independent agents.
United Heritage is a financial holding company that owns the stock of three insurance companies: United Heritage Life Insurance Company, United Heritage Property & Casualty Company, and Sublimity Insurance Company.
The transaction, which will include Alliance’s conversion from a mutual association to a stock company, is subject to regulatory approval and the approval of Alliance’s members. Financial terms of the transaction were not disclosed.
Sources: United Heritage Financial Group
Alliance Mutual Insurance Company
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
‘Door Knocker’ Roofers Were Everywhere. NC Farm Bureau Saw an Opportunity 
Fifth La Niña in Six Years to Disrupt Crops and Supply Chains 
Trump to Issue Order Creating National AI Rule 
Insurance Covers Settlement Paid by Stocks Instead of Money: Delaware High Court 
