General Electric announced that its subsidiary, GE Insurance Solutions, completed the sale of Medical Protective Corp., based in Fort Wayne, Ind., to Columbia Insurance, a unit of Berkshire Hathaway, for $825 million.
Medical Protective Corp. is a provider of medical professional liability insurance, and has been protecting the assets and reputations of physicians, dentists and other primary providers of health care for more than 100 years.
Medical Protective serves an estimated 75,000 physicians and dentists and employs 330 people. The company has more than $700 million in annual premium and $2 billion in statutory assets.
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