Jacobs Financial Group Inc. (JFG) said it has acquired all of the issued and outstanding stock for West Virginia Fire and Casualty Company (WVFCC) from The Celina Mutual Insurance Company of Celina, Ohio.
Charleston, W.Va.-based JFG, a holding company, received final approval from the West Virginia Department of Insurance on Dec. 23, and closed on the deal on Dec. 30.
JFG said it paid $2.9 million for the insurer, subject to post closing costs. WVFCC held only licenses, securities and cash at the close of the deal. Celina withdrew all outstanding insurance policies and assumed all liabilities.
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