Los Angeles-based Farmers Group Inc. has completed its acquisition of Davie, Fla.-based auto insurer Bristol West Holdings Inc., according to the parent company, Zurich Financial Services Group.
The Zurich, Switzerland-based Zurich said the deal was completed on Wednesday.
Bristol West specializes in nonstandard auto insurance business. According to National Underwriter's Highline Data Service, the group reported $576 million in direct premium written in 2006, primarily in California, Florida and Michigan.
The deal was valued at $713.5 million, the insurer said.
A company spokesman said Bristol will continue to market its product through its own name. According to its Web site, Farmers Insurance does not sell its own product in Florida.
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