Anchor Pacific's PKW Division Acquired by Talbot Agency.CONCORD, Calif.--(BUSINESS WIRE)--Jan 25, 1999--Anchor Pacific Underwriters, Inc., Concord, California Concord is the largest city in Contra Costa County, California, USA. As of the 2000 census, the city had a total population of 121,780. In 1869 it was founded as Todos Santos by Don Salvio Pacheco on his land. , has announced the sale of Putnam, Knudsen & Weiking, its property and casualty brokerage, to Talbot Agency of California, Inc. effective Dec. 31, 1998. In announcing the transaction, James R. Dunathan, Anchor Pacific President and 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. , stated, "our board and management made a strategic decision last year to focus on our core TPA (Transient Program Area) See transient area. TPA - Transient Program Area businesses which have grown dramatically in the past two years. This sale of PKW PKW Personenkraftwagen (German: passenger car) will allow us to direct our resources to additional TPA opportunities. The purchase of PKW by Talbot is the ideal solution to our business strategy and will provide Talbot with a solid base in property and casualty brokerage here in Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern upon which to build for the future." Terms of the transactions were not disclosed. Talbot Agency of California, Inc., based in Riverside, Calif. is part of Talbot Financial Corporation, Albuquerque, New Mexico “Albuquerque” redirects here. For other uses, see Albuquerque (disambiguation). Albuquerque (pronounced [ˈæl.bə.kɚ.kiː], Spanish: [al.βu. . Talbot is ranked as the 19th largest broker of U.S. business by the Business Insurance magazine. Russell Miller Corporate Finance, Inc., San Francisco, represented Anchor Pacific in the transaction. Anchor Pacific Underwriters, Inc., is a public holding company (APUX) with a national marketing focus. Subsequent to the PKW sale, Anchor Pacific will continue to operate its TPA offices in California, Arizona, Oregon and Nevada. It is currently ranked by Business Insurance magazine among the 60 largest insurance firms in the United States. For information regarding Anchor Pacific please call 1-800-877-7707 or 925-682-7707. Ask for Corporate Affairs, extension 3256. |
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