Columbia Insurance Company, a member of the Berkshire Hathaway Group of Insurance Companies, has agreed to acquire American All-Risk Insurance Services (AARIS) and American Commercial Claim Administrators (ACCA), both wholly-owned subsidiaries of Acacia Pacific Holdings (APH).
AARIS and ACCA are privately held companies that provide underwriting, operational, and claims management services for California Workers Compensation business placed through AARIS’ agency distribution network (www.aarisinsurance.com). National Liability & Fire Insurance Company, another member of the Berkshire Hathaway Group of Insurance Companies, has been writing its California Workers Compensation business through AARIS since October 2004. Terms of the transaction were not disclosed. The transaction is scheduled to close in July 2006.
Lou Rovens, the founder and principal owner of the entities, will continue to operate Acacia Pacific Holdings and its related non-workers’ compensation insurance activities. The acquired AARIS/ACCA operations will continue to be managed by President and CEO Rob Darby, who has been managing the companies since February 2005. AARIS and ACCA are headquartered in San Francisco, and ACCA maintains a branch claims office in San Diego.
“Becoming part of the Berkshire Hathaway family of companies is a great opportunity for our management, staff and employees,” said Darby. “This acquisition will provide value to our current client partners, agents, brokers, and their customers, by giving them a stable market and unsurpassed financial strength. We look forward to a long and mutually rewarding relationship, as well as becoming fully integrated into the Berkshire Hathaway family.”
AARIS and ACCA provide workers’ compensation insurance solutions for a wide range of companies of various sizes and in diverse industries in California. Their underwriting products include MaxiComp, EconoComp, and eQUOTE, an online rating program.
Source: American All-Risk Insurance Services
Topics California Mergers & Acquisitions Workers' Compensation
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