Louisiana based, Imperial Management Corporation (IMC) and Southport Lane, LP announced that IMC has obtained all required regulatory approvals and closed its previously announced acquisition of National Automotive Insurance Company (NAIC), an insurance company headquartered in Metairie, Louisiana. NAIC specializes in providing personal auto insurance exclusively in Louisiana and predominantly within the New Orleans and Baton Rouge metropolitan areas.
The acquisition complements IMC’s strategy for organic growth and expansion throughout the Southern United States. The acquisition of NAIC will nearly double Imperial’s auto premium writings in Louisiana.
Marc Carter, CEO of IMC, said, “I am pleased to have NAIC join the Imperial family of companies, NAIC has served its policyholders and agents with integrity and we will continue to build on that foundation for the future.”
Glenn Weber, CEO of Southport Re, LLC, the umbrella organization for Southport Lane’s insurance and reinsurance businesses, echoed this sentiment saying, “NAIC is a strong fit strategically for Imperial, both deepening Imperial’s presence in its core Louisiana market and strengthening our capacity for profitable growth.”
At closing, National Automotive Insurance Company will operate as a subsidiary of IMC, joining Imperial Fire & Casualty Insurance Company, ABC Insurance Agencies and RAC Insurance Partners.
Source: Imperial Management Corporation
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