Auto-Owners Insurance has entered into a definitive agreement to acquire Monterey, Calif.-based Capital Insurance Group.
Terms of the deal were not disclosed.
Auto-Owners Insurance Group is headquartered in Lansing, Mich. Auto-Owners is a multiline property/casualty insurer operating through independent agencies in 26 states.
Capital Insurance Group insures personal lines and commercial and agricultural businesses in California, Washington, Oregon, Nevada and Arizona.
Philo Smith & Co. was the exclusive financial advisor to Auto-Owners.
Related:
Topics Mergers & Acquisitions California Auto
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