Montpelier completes US E&S buy
Montpelier US, the Hartford-based subsidiary of Bermudian reinsurer Montpelier Re has completed the purchase of US excess & surplus lines company General Agents Insurance Company of America, after receiving regulatory approval from the Oklahoma Department of Insurance.
The agreement, which was first announced in July, saw Montpelier US pay Gainsco, Inc., a Texas Corporation, a $4.75m premium over book value to acquire the firm, which is authorised in 38 states total
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