Independent Insurance Investments Inc. said it has completed the acquisition of the Omni Insurance Group from The Hartford Financial Services Group Inc.
Independent said Omni, a nonstandard auto insurance company, generated net written premiums of $174 million in 2005.
Omni employs approximately 250 people, writes business in over 40 states, and distributes products through a network of independent agents.
"The acquisition of Omni expands our footprint into a number of important markets," said Bill Lockhorn, chief executive officer of Atlanta-based Independent, in a statement.
Mr. Lockhorn called the acquisition "a strong step to expand distribution of auto insurance to individuals who might otherwise have difficulty finding high quality insurance at a fair price."
Independent, a nonstandard auto insurance specialist, was itself acquired in December 2004.
That transaction backed Independent management with equity capital provided principally by Inverness Partners II, LP, a private equity fund managed by Inverness Management, LLC.
Inverness, and certain of its limited partners, provided substantially all of the equity capital required for the Omni acquisition.
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