美国海岸保险公司签署协议将Interboro出售给Forza Insurance

2024-05-10 04:56

American Coastal Insurance (NASDAQ:ACIC) agreed to sell its Interboro Insurance Company unit to Forza Insurance Holdings LLC, in a deal that will complete the runoff of American Coastal's personal lines portfolio and allow it to focus on its fast-growing commercial specialty property portfolio.
At the same time, Interboro and SageSure entered into a program administrator agreement and claims services agreement on May 9, under which SageSure will provide policy administration, underwriting, and claims administration services for Interboro.
Terms of the agreements weren't disclosed.
The closing of the Interboro sale is subject to the approval of the New York Department of Financial Services.

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