Omaha, NE (PRWEB) March 14, 2014
North American Casualty Company, a subsidiary of Applied Underwriters, Inc., today announced it has signed a definitive Stock Purchase Agreement with Quebec Corporation Optimum Insurance Company, Inc.
The agreement allows North American Casualty Company acquisition of all issued and outstanding stock of Optimum Property & Casualty Company, a stock insurance company domiciled in Texas.
“The acquisition of Optimum Property & Casualty Company is a solid addition to our company portfolio and positions us to expand Applied’s leadership position in the state of Texas,” said a company insider.
The transaction is subject to regulatory approval by the Texas Department of Insurance and is anticipated to close before the end of 2014. A company name change will be effected after closing.
About Applied Underwriters, Inc.
Through its subsidiaries and affiliates, Applied Underwriters, a Berkshire Hathaway Company, is a leading provider of workers’ compensation insurance and financial services for companies nationwide. For more information, visit http://www.auw.com.