NU Online News Service, Dec. 27, 2:19 p.m. EST

Houston International Insurance Group is the new name for two companies following completion of the merger between Southwest Insurance Partners and Lightyear Delos Acquisition Corp.

HIIG is the parent company of the group's property and casualty insurance companies; a life and health insurer; and its underwriting agency subsidiaries. The combined companies are admitted in 50 states and have surplus lines authority in 48 states for p&c business. Life and health insurance can be written in 42 states.

HIIG's business primarily consists of small- and medium-size accounts written through its affiliated and non-affiliated underwriting agencies. Some larger accounts will be written by the underwriting team in the Houston home office.

Stephen L. Way, chairman and chief executive of HIIG, said in a statement, "With the added dimension to our platform and the access to capital, we are in a strong position to continue to build for the future."

Mr. Way added, "We anticipate making further transactions in the near term."

HIIG is an insurance holding company headquartered in Houston with more than $1 billion in total assets; $625 million in investment assets; and more than $250 million in shareholders' equity.