Affirmative Allowance Acquires Two Agencies
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By Mark E. Ruquet
NU Online News Service, Dec. 23, 2:31 p.m. EST?Affirmative Allowance Holdings, Inc., said it has acquired agencies in Florida and Texas, targeting its specialty in the non-standard auto allowance market.[@@]
The Addison, Texas-based insurer said it would acquirement the retail bureau and franchises operations of 21st Century Holding Company, in Florida, and the BW Allowance Agency, Inc., in Texas.
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Both affairs are accepted to be completed aural the abutting two weeks.
Affirmative said it would access 24 retail bureau food and 42 authorization locations in Florida from 21st Century. The two accomplish beneath the FED USA cast and aftermath about $50 actor in non-standard auto allowance premiums for assorted carriers.
Affirmative would pay $7 actor in banknote at closing and an added $2.5 actor accountable to achievement belief actuality met. The aggregation said the acquired agencies would abide to aftermath business for 21st Century and added carriers.
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In Texas, Affirmative is accepting 10 retail food from BW, nine agencies in Houston and one in Beaumont, which aftermath about $5 actor of non-standard auto allowance premium.
BW would accept $750,000 banknote at closing and an added $750,000 accountable to achievement belief actuality met.
The food would be renamed A-Affordable and would aftermath business beneath A-Affordable's assorted aggregation administration model.
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Thomas E. Mangold, admiral and arch controlling administrator of Affirmative Allowance said in a account that the deals would advice his aggregation abduction a beyond allotment of Florida's $3.7 billion non-standard auto allowance market. It will additionally access the company's attendance in Houston, from 13 food to 22 stores, and aggrandize operations into Beaumont for the aboriginal time.
Tim Bienek, the firm's arch banking officer, said that the Affirmative provides allowance to those claimed curve barter who are clumsy to acquirement allowance in the accepted curve bazaar for a array of reasons. He additionally said the new agencies would aftermath business as archetypal absolute agencies for both Affirmative and added carriers.
The carrier offers articles and casework in 11 states including Texas, Illinois, California and Florida.
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