NU Online News Service, Nov. 12, 11:41 a.m.EST

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Western National Insurance group, a Minneapolis-based superregional insurer has announced plans to acquire Monee, Ill.-basedTitan Property and Casualty Insurance Company. No financial detailswere disclosed.

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This week Western National reported 2009 third quarter netincome of $15.3 million, a 4 percent increase over 2008 thirdquarter net income of $14.7 million.

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In the 2009 third quarter, Western National, a mutual company,reported a 94.4 combined ratio versus 95.8 in the previous year'sthird quarter. The company's total assets climbed $22.9 millionfrom Dec. 31, 2008 to $556.4 million.

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Regarding the merger, Western National said it is "anticipatedthat Titan Property and Casualty Insurance Company will continue tooperate locally in Illinois as a separate entity writing commerciallines, although under the ultimate management and control ofWestern National."

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Stuart Henderson, president and chief executive officer ofWestern National, said, "Titan's growing book of business, combinedwith the financial support and economies of scale that ourexpansion into Illinois brings, positions this transaction well toincrease profit and enhance stability for our mutualpolicyholders."

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Western National said it expects to close the transaction beforeyear end.

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