Max Specialty Insurance Company said it has acquired Commercial Guaranty Casualty Insurance Company, an insurance entity licensed to write business in all fifty states and the District of Columbia. Terms of the deal were not released.
Max Specialty, an excess and surplus lines carrier of Max Capital Group Ltd., said it expects that, after filing of the required corporate amendments and after regulatory review, Commercial Guaranty's name will be changed to Max America Insurance Company.
With the acquisition of Commercial Guaranty, Max Specialty said the acquired operation will primarily support Max Specialty's previously announced entry into inland and ocean marine underwriting.
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