Cincinnati-based American Financial Group Inc. (AFG) said it hasentered into a definitive agreement to purchase Strategic CompHoldings, LLC. Terms of the deal were not released.
|Strategic Comp, headquartered in Metairie, La., is a provider ofworkers' compensation programs offering a combination of losscontrol, claims management and deductible-based options for midsizeto large commercial accounts. The company is expected to produceapproximately $30 million of workers' comp premium in 2007, AFGsaid.
|Carl Lindner III, co-chief executive officer of AFG, said in astatement that the acquisition formalizes and extends itslong-standing relationship with Strategic Comp. He said theacquisition supports AFG's objective to expand its penetration intothe workers' comp market and increase geographic coverage.
|AFG is a property-casualty insurer focusing on specializedcommercial products for businesses. It also deals in the sale oftraditional fixed, indexed and variable annuities and a variety ofsupplemental insurance products.
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