More Detail On Century American Casualty Purchase
NU Online News Service, Jan. 27, 4:16 p.m. EST?Physicians Insurance Company of Wisconsin (PIC Wisconsin), has provided more detail concerning the purchase of Century American Casualty Company by Atlanta-based Access Insurance Holdings Inc.[@@]
Mike Kollath, assistant vice president of finance for PIC Wisconsin, said Century American was a subsidiary purchased by PIC Wisconsin in 1998. The company was a shell company in runoff and was not a significant part of the underwriter's business.
The company, he said, did not fit in with PIC Wisconsin's core business located in the seven states of Wisconsin, Iowa, Illinois, Nevada, Minnesota, Nebraska and South Dakota. Century American is licensed in the South.
Terms of the deal were not disclosed.
PIC Wisconsin is a writer primarily of medical malpractice. It is a stock company owned by doctors and is rated "A-minus (Excellent)," by A.M. Best.
The company's Web site is located at www.picwisconsin.com.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.