Pembroke, Bermuda-based Endurance Specialty Holdings Ltd. completed its acquisition of ARMtech Insurance Services Inc., headquartered in Lubbock, Texas. Terms of the deal were not released.
ARMtech, a major underwriter of the U.S. federally sponsored crop insurance program, was acquired by Endurance's subsidiary Endurance U.S. Holdings Corp. and its affiliates (see NU Online, Sept. 7). ARMtech reported an estimated $410 million in total premiums in 2007.
ARMtech was founded in 1996 and entered the crop insurance services business in 1999 as a Texas-based managing general agency.
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