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Former Discover Re Execs Acquire Company

Without disclosing terms of the deal, Hartford, Conn.-based SPARTA said it acquired American Employers' Insurance Company, an insurer licensed in 52 jurisdictions, from a subsidiary of OneBeacon Insur

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A newcomer to the specialty program insurance and alternative risk transfer (ART) markets, SPARTA Insurance Holdings announced that it acquired an insurance company from OneBeacon on Friday.

Without disclosing terms of the deal, Hartford, Conn.-based SPARTA said it acquired American Employers’ Insurance Company, an insurer licensed in 52 jurisdictions, from a subsidiary of OneBeacon Insurance Company. OneBeacon is the Canton, Mass.-based unit of White Mountain Group.

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