Global Indemnity buys business from Assurant
The US subsidiary of Ireland-based Global Indemnity has acquired American Reliable Insurance Company from Assurant for $114 million.
American Reliable writes specialty personal lines and agricultural property and casualty insurance, in each case distributed through a network of general and independent agents.
Cindy Valko, Global Indemnity's chief executive, said: "Strategically, American Reliable enhances Global's position in the US as a specialty personal, agricultural (equine, farm & ranch), and commercial property and casualty insurance provider.
“The combination of American Reliable with Global's Penn-America, United National, and Diamond State operations will provide Global's and American Reliable's employees and wholesale and MGA partners with complementary products, infrastructure, and underwriting expertise. We anticipate a seamless transition and will closely coordinate transaction execution with Assurant."
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