Toronto-based Kingsway Financial Services announced that it has entered into an agreement with The Robert Plan Corporation (RPC) to acquire the renewal rights of RPC’s assigned risk business.
“As part of these arrangements, RPC has been given the authority to market the assigned risk programs on behalf of Kingsway, and Kingsway has assumed certain operating functions related to this business,” said the bulletin. “RPC has also been granted an option for a limited period of time to repurchase these rights and acquire these operating functions from Kingsway.”
“We are pleased to have solidified our arrangements with RPC”, stated Bill Star, Kingsway’s President and CEO. “This transaction strengthens our relationship with RPC and further illustrates our commitment to the assigned risk business in the United States.”
Kingsway is one of the largest truck insurers and non-standard automobile insurers in the U.S. and Canada.
Topics Mergers & Acquisitions
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