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 the Staff Editor at Dark Reading, where she focuses on cybersecurity news and analysis. She is a business technology journalist who previously reported for InformationWeek, where she covered Microsoft, and Insurance & Technology, where she covered financial ... View Full Bio