Service Insurance Holdings, Inc. ("SIHI"), parent of Texas-based Service Lloyds Insurance Company, has acquired American Healthcare Indemnity Company ("AHIC"), an Oklahoma-based insurer. The new entity will be rebranded as Service American Indemnity Company.

In a statement, SIHI said that a primary goal of the acquisition was "the augmentation and gradual expansion of the company's business geographically." SIHI added that the acquisition would allow Service American Indemnity Company to write worker's compensation insurance in up to 48 states, and to identify and introduce new programs.

"The launch of Service American Indemnity Company, integrated with Service Lloyds, represents one of the first steps in our strategy to execute measured, organic growth into targeted areas over the next few years," said J. Kelly Gray, the chief executive officer of privately-held SIHI. "It will allow us to continue our tradition of unparalleled service in the worker's compensation market as well as be responsive to the growing needs of customers and stakeholders."