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MEADOWBROOK INSURANCE GROUP ANNOUNCES SUCCESSFUL CAPITAL RAISING FOR STAR HOLDING COMPANY

 SOUTHFIELD, Mich., Jan. 20 /PRNewswire/ -- Meadowbrook Insurance Group has announced the successful completion of a $10 million capital raising effort for Star Holding Company, parent of Star Insurance Company of Southfield, and Savers Property & Casualty Insurance Company of Overland Park, Kan.
 Meadowbrook is a substantial shareholder in, and the manager of, Star Holding Company and its subsidiaries. The capital raising effort, which was done through a private placement, increased the capital and surplus of the insurance companies to $25 million.
 Meadowbrook, formed in 1955, is a risk management services firm which specializes in creating risk management and alternative risk transfer mechanism programs for businesses, professionals, associations and government entities. Star plans to utilize the increased capital to underwrite new programs for acquisition opportunities.
 Star, formed in 1985, is currently rated B++ by A.M. Best's insurer rating organization, and has projected premium income of $70 million for 1993.
 Star Holding Company is owned by businessmen who have joined together to create for themselves and others unique programs for reducing their overall insurance costs. Star has grown to over $62 million in assets, and has become a leading provider of insurance and financial services in the alternative risk market.
 -0- 1/20/93
 /CONTACT: Warren Gardner or Dick Marshall of Meadowbrook Insurance Group, 800-482-0626 (Michigan) or 800-482-2726 (national)/


CO: Meadowbrook Insurance Group; Star Holding Company ST: Michigan IN: INS SU:

SB -- DE004 -- 6743 01/20/93 09:05 EST
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Publication:PR Newswire
Date:Jan 20, 1993
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