Affirmative Insurance Holdings Completes Acquisition of USAgencies.ADDISON, Texas Addison is a city in Dallas County, Texas (USA). The population was 14,166 at the 2000 census. Addison is a northern suburb of Dallas. The city calls itself the Town of Addison but it is incorporated as a city. -- Affirmative Insurance Holdings, Inc. (Nasdaq:AFFM AFFM Adoptive and Foster Families of Maine (Old Town, Maine) AFFM Air Flow Field Modification ), a producer and provider of personal non-standard automobile insurance, today announced it completed its acquisition of USAgencies LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control in a fully-financed all cash transaction valued at approximately $200 million. USAgencies is a non-standard automobile insurance provider headquartered in Baton Rouge, Louisiana For the Canadian restaurant, see . Baton Rouge (from the French bâton rouge), pronounced /ˈbætn ˈɹuːʒ/ in English, and . It has 92 sales offices in Louisiana, Illinois and Alabama selling its products directly to consumers through its own retail stores, virtual call centers and internet site. In 2005, the company had gross written premium of approximately $157 million. "USAgencies is a well-regarded brand with a significant customer base in Louisiana, the twelfth largest non-standard auto insurance market in the country," said Kevin Callahan, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Affirmative. "The company is a great fit with our strategy to build a significant presence in the largest non-standard auto insurance markets." About Affirmative Insurance Holdings Affirmative Insurance Holdings, Inc. is a producer and provider of personal non-standard automobile insurance policies to individual consumers in highly targeted geographic markets. Affirmative currently offers products and services in 12 states, including Texas, Illinois, California and Florida. Forward-Looking Statements Disclosure Certain information in this news release and other statements or materials are not historical facts but are forward-looking statements relating to such matters as future results of Affirmative's business, financial condition, liquidity, results of operations, plans, and objectives. In connection with the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, Affirmative provides the following cautionary remarks regarding important factors that, among others, could cause its actual results and experience to differ materially from the anticipated results or other expectations expressed in its forward-looking statements. The risks and uncertainties that may affect the operations, performance, results of its business, and the other matters referred to above include, but are not limited to: general volatility of the non-standard personal automobile and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. markets; the market price of Affirmative's common stock; changes in business strategy; severe weather conditions; availability, terms and deployment of capital; the degree and nature of competitor product and pricing activity; changes in the non-standard personal automobile insurance industry, interest rates or the general economy; identification and integration of potential acquisitions; claims experience; and availability of qualified personnel. |
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