Reno, Nev.-based Employers Holdings, Inc. announced yesterday that it would acquire AmCOMP Incorporated in a $230 million deal that includes the assumption of $37 million in debt.

Employers said the acquisition will expand its workers' compensation insurance operations to a total of 26 states, and advances the company vision of "being the leader in the property and casualty insurance industry specializing in workers' compensation."

A.M. Best Co. said Employers "A-minus" (excellent) ratings would be unchanged by the transaction and it would now set a financial strength rating for AmCOMP, which it had not previously followed.

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