FCCI Insurance Group, a Sarasota, Fla.-based commercial property and casualty insurance writer, said it has acquired the 20 percent of Brierfield Insurance Company of Jackson, Miss., it did not own in a stock transaction. Financial details were not disclosed.
FCCI acquired the minority interest in Brierfield by also buying Mississippi Insurance Managers, also of Jackson, a managing general agent.
FCCI has owned 80 percent of Brierfield since it began operations in 1999. It has about $30 million in written premiums.
G.W. Jacobs, president and chief executive officer of FCCI, said the Brierfield purchase was part of FCCI's long term strategic goals.
FCCI will retain an office in Jackson under the leadership of Tom Quaka, Brierfield's president at the time of the acquisition. Brierfield has approximately 35 employees. They will be retained, FCCI officials said.
In addition to Brierfield Insurance Company, FCCI Insurance Group companies include: FCCI Insurance Company, National Trust Insurance Company, FCCI Commercial Insurance Company, Monroe Guaranty Insurance Company, and FCCI Advantage Insurance Company.
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