Alabama-based Alfa Insurance is acquiring three entities from Western National Mutual Insurance Co. that will expand Alfa’s automobile coverage. The acquisition, announced today, still needs to be approved by regulatory agencies.
Alfa will be acquiring Legacy Insurance Services Inc. and Arizona Auto Insurance Companies and the book of business from Nevada General Insurance Co., all three from Western National, which acquired the first two in 2010.
Headquartered in Phoenix, Arizona, Legacy writes non-standard personal auto insurance. Also, Arizona-based, AAIC writes non-standard personal auto insurance in Arizona and Colorado. And the NCIC book of business acquisition will add similar coverage in Nevada.
The acquired firms will be part of Alfa’s subsidiary, Trexis, which was acquired in 2005.
“With this acquisition, Trexis will serve customers in 13 states,” said Jimmy Parnell, Alfa president and CEO. “I’m confident the Trexis team will leverage this stable book of business to continue adding value to Alfa while diversifying our risk. Trexis represents one of our greatest opportunities for growth. This addition provides Trexis a strategic foothold in the high-growth states of Arizona, Colorado and Nevada.”
Western National President and CEO Rick Long added, “This agreement with Alfa presents a great opportunity and strategic fit for all involved organizations. Western National will renew its focus on its core property-and-casualty operations, while Alfa and its subsidiary Trexis will provide greater resources and scale in the non-standard personal auto market to the Legacy team.”
Trexis is headquartered in Franklin, Tennessee.
