American Independent Bought For $45 Million
NU Online News Service, Dec. 16, 11:49 p.m. EST?American Independent Insurance Holding Company and Personal Service Insurance Co. announced yesterday that it has been purchased by a private investor group, Wand Partners and Inverness Management, for $45 million.[@@]
Although the firms are being sold off by Arch Capital Group Ltd. and its subsidiary, Arch Capital Holdings Ltd., which bought them four years ago, the companies said their links with Arch will continue through a reinsurance agreement.
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