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Core Specialty To Acquire American Surety Company

PRIVATENov 01, 2023

Acquiring Company

Core Specialty Insurance Holdings, Inc.

Acquired Company

American Surety Company

CincinnatiIndianapolisInsurance

Description

Core Specialty Insurance Holdings, Inc. and its subsidiaries (“Core Specialty” or the “Company”) and Eighth Amendment Holdings, Inc. (the parent company of American Surety Company (“ASC”) and Underwriters Surety, Inc. (“USI” and, together with ASC, “American Surety”), announced today the signing of a purchase agreement whereby Core Specialty will acquire American Surety in a stock and cash transaction.

Quick answer

Core Specialty Insurance Holdings, Inc. is acquiring American Surety Company, announced November 1, 2023. Core Specialty Insurance Holdings, Inc. is based in Cincinnati, Ohio, United States.

How much did Core Specialty Insurance Holdings, Inc. pay for American Surety Company?
The deal value was not disclosed.
What does Core Specialty Insurance Holdings, Inc. do?
Core Specialty offers a diversified range of property and casualty insurance products for small to midsized businesses.
Where are Core Specialty Insurance Holdings, Inc. and American Surety Company based?
Core Specialty Insurance Holdings, Inc. is based in Cincinnati, Ohio, United States. American Surety Company is based in Indianapolis, Indiana, United States.

Source: Fundz verified event record.

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Company Information

Company

Core Specialty Insurance Holdings, Inc.

Location

Cincinnati, Ohio, United States

About

Core Specialty offers a diversified range of property and casualty insurance products for small to midsized businesses. From its underwriting offices spanning the U.S., the Company focuses on niche markets, local distribution, and superior underwriting knowledge; offering traditional as well as innovative insurance solutions to meet the needs of its customers and brokers. Core Specialty is an insurance holding company operating through StarStone Specialty Insurance Company, a U.S. excess & surplus lines insurer, and StarStone National Insurance Company, Lancer Insurance Company, and Lancer Insurance Company of New Jersey, each of which is a U.S. admitted markets insurer. All Core Specialty Insurance entities are AM Best rated A- (Excellent); the Starstone companies are Financial Size Category XII and the Lancer entities are Financial Size Category VIII. For further information about Core Specialty, please visit www.corespecialty.com.

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Frequently asked

Who acquired American Surety Company?

American Surety Company was acquired by Core Specialty Insurance Holdings, Inc., based in Cincinnati. The deal was reported on November 1, 2023. Core Specialty offers a diversified range of property and casualty insurance products for small to midsized businesses. Core Specialty Insurance Holdings, Inc. is privately held and operates in Insurance.

When did Core Specialty Insurance Holdings, Inc. acquire American Surety Company?

Core Specialty Insurance Holdings, Inc.'s acquisition of American Surety Company was reported on November 1, 2023. Core Specialty Insurance Holdings, Inc. and its subsidiaries (“Core Specialty” or the “Company”) and Eighth Amendment Holdings, Inc. (the parent company of American Surety Company (“ASC”) and Underwriters Surety, Inc. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does American Surety Company do?

American Surety Company is a privately held Indiana based Property & Casualty company licensed in all 50 states and the District of Columbia specializing in bail bonds and commercial surety bonds. It is privately held, and is based in Indianapolis.

This company was part of an acquisition. Fundz tracks who bought whom, and who to call on both sides.

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