A.M. Best Co. reported that the financial strength rating of A (Excellent) and the stable rating outlook on the subsidiaries of New Jersey-based Mercer Insurance Group Inc. (MIGP) remain unchanged following the announcement of its acquisition of Financial Pacific Insurance Group Inc.
California-based Financial Pacific is a writer of commercial property/casualty lines in the Western region of the United States. The financial strength rating of A- (Excellent) and the negative rating outlook on Financial Pacific’s insurance subsidiary, Financial Pacific Insurance Company, also remain unchanged.
A.M. Best believes that the proposed acquisition of Financial Pacific for approximately $40.4 million in cash is consistent with MIGP’s long-term objectives of strategically developing its commercial lines segment and its product and geographic diversification.
MIGP is a holding company–which through its insurance subsidiaries–offers commercial and personal lines products to businesses and individuals in Pennsylvania and New Jersey.
Was this article valuable?
Here are more articles you may enjoy.
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
Viewpoint: Why Brokers Have Little to Fear and Everything to Gain From AI 
Palm Beach Billionaires Feud Over Who’s Really Protecting the Everglades 
Mustard Maker Caught Pumping Pollutants Into River for Years and Lying About It 
