Insight and Intelligence on the London & International Insurance Markets 24 Apr 2018
IAT buys Rockhill’s excess umbrella renewal rights
- 23 March 2018
US specialty insurer IAT has agreed a deal to acquire the renewal rights to a $40mn book of surplus lines excess and umbrella business from State Auto subsidiary, Rockhill.
The transaction is the latest involving Rockhill and when it closes on 1 May will complete State Auto's stated strategy to exit specialty lines insurance.
The latest deal sees Raleigh, North Carolina-based IAT buy the renewal rights and associated assets, including 11 current Rockhill employees.
In a statement, IAT said it...
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