Alteris Insurance Services says it has acquired the operating assets and business rights of specialty program manager Mattei Insurance Services.
Terms of the deal were not disclosed.
Seattle-based Mattei offers a wide range of products and services, primarily through eight programs: Alaska Commercial, Automobile Service and Repair, Fence Contractors, Forest Products, Landscapers Insurance, Moving and Storage, Telecommunication Towers, and Waste and Recycling.
"This acquisition is a perfect fit for our company and it's significant for many reasons," said Hilbert "Van" Schenck II, president of Alteris, a wholly-owned subsidiary of Argo Group International Holdings. "Mattei offers complementary, if not similar products and services in many of the same classes of business we target through our own programs. This presents an ideal opportunity to extend our geographic footprint on the west coast, building upon our expertise in similar programs on the east coast. In addition, we gain new programs and more underwriting experience, and we're able to establish new carrier relationships."
Coverages include a broad array of property and casualty insurance for admitted and non-admitted markets: animal mortality, bonds EPLI; excess/surplus lines, farm comprehensive, monoline umbrella, personal liability; professional liability; railroad protective policies; pasture/feedlot standard P&C placement; and workers compensation. Insurance coverages will be underwritten through Mattei's existing carrier markets and distribution partners, as well as by Alteris Insurance Services.
Source: Alteris Insurance Services.
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