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Deal snapshot: THE HARTFORD TO ACQUIRE FOREMOST-BRANDED SMALL COMMERCIAL BOOK OF BUSINESS FROM FARMERS.

MANews-(C)2009-2018

US-based insurer The Hartford has entered into a renewal rights agreement with the Farmers Exchanges to acquire its Foremost-branded small commercial

business sold through independent agents, the company said.

The Foremost-branded small commercial independent agent book of business, which is sold through more than 5,000 agents and brokers nationwide, has approximately USD 200m in annual premium as of Dec. 31, 2017. It consists of three primary lines of business underwritten by Foremost Insurance Group: business owner's policy for property, general liability and umbrella; commercial auto; and workers' compensation.

Country: USA

Sector: Insurance

Target: Foremost-branded small commercial business sold through independent agents

Buyer: The Hartford

Vendor: Farmers Exchanges

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Agreed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Geographic Code:1U1CT
Date:Feb 22, 2018
Words:131
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