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.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.