InsuranceNoodle Acquires XL Vianet
Chicago-based Internet insurance wholesaler InsuranceNoodle Inc. has acquired XL Vianet from XL Specialty Insurance Co.
Terms of the deal were not disclosed.
The specialty underwriting business, designed to fill niche property-casualty product needs of small businesses, will be renamed Insure Vianet Inc.
XL Specialty Insurance Company is a member of Bermuda-based XL Capital, Ltd.
Member companies of XL Capital will underwrite Vianet products that will be made available nationally, InsuranceNoodle said.
InsuranceNoodles Chief Executive Officer Don Urbanciz said in a statement that the acquisition would strengthen the wholesaler and meet more of the needs of its member agents small-business clients.
InsuranceNoodle said that 3,200 independent agencies and brokers in 49 states use its system.
Additional information is available at www.insurancenoodle.com.
Reproduced from National Underwriter Edition, February 10, 2003. Copyright 2003 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.
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