Atlantic American Corp. announced that it completed its acqusition of Association Casualty Insurance Co. (Association Casualty) and its affiliate Association Risk Management General Agency Inc. (ARMGA), both of Austin, TX, on July 1.
Association Casualty specializes in underwriting workers' compensation insurance in Texas and is rated A- ("Excellent") by A.M. Best Co. ARMGA operates as a general agency providing workers' compensation coverage through independent agents, as well as placing all other property and casualty lines of coverage for Propane Gas Dealers of Texas. By leveraging the experience and expertise of Atlantic American's subsidiary, Georgia Casualty & Surety Company, Atlantic American will help Association Casualty's expansion into underwriting other property and casualty lines of business.
"This acquisition expands Atlantic American's coverage outside the Southeast and builds on our concept of developing a portfolio of specialized, regional insurance companies," said Hilton H. Howell Jr., president and CEO of Atlantic American. "Not only will this transaction provide us with a number of cross-marketing opportunities, it adds years of industry knowledge and expertise to our management team."
Atlantic American is an insurance holding company involved in specialty markets of the life, health, property, and casualty insurance industries. Its principal subsidiaries include American Southern Insurance Co., American Safety Insurance Co., Bankers Fidelity Life Insurance Co., Georgia Casualty & Surety Co., and Self-Insurance Administrators Inc.