Sentry Insurance announced it has agreed to purchase Viking Insurance from United Kingdom-based Royal & SunAlliance pending regulatory approvals. Terms of the transaction were not disclosed.
Sentry Insurance, Stevens Point, Wis., said that the deal will double its presence in the specialty auto insurance market. The company would not confirm nor deny reports that the transaction was a $200 million cash sale.
Viking Insurance, Madison, Wis., is a provider of specialty auto insurance through 7,900 independent agencies and brokers in 27 states.
The proposed acquisition also includes legal entities Viking Insurance Company of Wisconsin, Viking County Mutual Insurance Company, and Peak Property and Casualty Insurance Corporation.
Sentry Insurance and its subsidiaries offer property and casualty insurance, life insurance, retirement programs, employee benefits, and related services to consumers and businesses throughout the U.S.
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