CRUM AND FORSTER SELLS FLOYD WEST & COMPANY
CRUM AND FORSTER SELLS FLOYD WEST & COMPANY BASKING RIDGE, N.J., Jan. 3 /PRNewswire/ -- Crum and Forster, Inc.
(C&F), the insurance holding company subsidiary of Xerox Financial Services, Inc., announced that it has sold the stock of Floyd West & Company and Floyd West of Louisiana, Inc. to Burns & Wilcox Ltd., Southfield, Mich.
The sale follows the previously announced signing of a definitive agreement. The purchase price was not disclosed. Floyd West & Company is an insurance wholesaler servicing retail producers by providing access to specialty markets in the southwest. Floyd West of Louisiana Inc., provides similar services in Louisiana, Alabama and Mississippi. Both companies are operating units of the London Agency, Inc., a Crum and Forster subsidiary, and a leading U.S. writer of umbrella and specialty property coverages for wholesale producers. Burns & Wilcox Ltd., a subsidiary of the H. W. Kaufman Financial Group, Inc. (AMEX: HWK), is a national wholesale broker and managing general agency. -0- 1/3/92 /CONTACT: Andrew L. Letendre of Crum and Forster, 908-204-3758/ (HWK) CO: Crum and Forster, Inc.; Floyd West & Company; Burns & Wilcox Ltd. ST: New Jersey, Louisiana, Michigan IN: INS SU: FC-OS -- NY034 -- 6540 01/03/92 14:58 EST
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|Date:||Jan 3, 1992|
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