New York-based Praetorian Financial Group Inc. announced today it has completed the acquisition of Alea North America Specialty Insurance Company (ANASIC), Rocky Hill, Conn.
Alea Group Holdings in Bermuda said ANASIC was sold for $34.6 million in cash by the subsidiary Alea North American Insurance Company.
Alea said the sale involves ANASIC surplus lines authorities in 38 states. ANASIC was placed in run-off in the fourth quarter of last year.
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