Multiline insurer Mercury General Corporation has announced its plans to purchase Workmen’s Auto Insurance Company for $8 million. Pending regulatory approval, the acquisition is expected to close in the first quarter of 2015.
Workmen’s is a Los Angeles-based auto insurer that specializes in underwriting non-standard personal auto insurance, primarily in the state of California. In June of this year, it reported a statutory surplus of $9.2 million. Mercury General and its subsidiaries predominantly offer personal auto and homeowners policies.
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Kelly Sheridan is Associate Editor at Dark Reading. She started her career in business tech journalism at Insurance & Technology and most recently reported for InformationWeek, where she covered Microsoft and business IT. Sheridan earned her BA at Villanova University. View Full Bio