Sentry Insurance announced it has agreed to purchase Viking Insurance from United Kingdom-based Royal & SunAlliance pending regulatory approvals. Terms of the transaction were not disclosed.
Sentry Insurance, Stevens Point, Wis., said that the deal will double its presence in the specialty auto insurance market. The company would not confirm nor deny reports that the transaction was a $200 million cash sale.
Viking Insurance, Madison, Wis., is a provider of specialty auto insurance through 7,900 independent agencies and brokers in 27 states.
The proposed acquisition also includes legal entities Viking Insurance Company of Wisconsin, Viking County Mutual Insurance Company, and Peak Property and Casualty Insurance Corporation.
Sentry Insurance and its subsidiaries offer property and casualty insurance, life insurance, retirement programs, employee benefits, and related services to consumers and businesses throughout the U.S.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
