Mercer Insurance Group Inc. and Financial Pacific Insurance Group Inc. have signed a plan for Mercer to acquire all the outstanding stock of Financial Pacific for approximately $40.4 million in cash. The transaction will be effected through a merger of a wholly owned subsidiary of Mercer into Financial Pacific. The transaction is expected to be completed during the summer. Mercer Insurance offers commercial and personal lines products in Pennsylvania and New Jersey. The acquisition provides product and geographic diversification for Mercer. In 2004, Financial Pacific generated $107 million of direct premiums primarily in California, Nevada, Oregon and Arizona through 300 independent agents.
Was this article valuable?
Here are more articles you may enjoy.
Company at Center of Cyclospora Outbreak Complained to White House, Source Says 
Zurich CEO Says Staff Let Go as Regulator Finma Imposes Partial Sales Ban 
Brown & Brown Estimates Cost of Howden-Driven Talent War Could Hit $60M in 2026 
NYC Halts Construction at 222 Broadway Office-to-Residence Tower From This Issue
