Insurance Underwriter - Mergers and Acquisitions
| Trillium Management to acquire Geneva Insurance |  |
November 04, 2009 4:55 PM ET
By Kelly Durkin
|  Related Companies | Related Documents | Related Deals |
Sun Lakes, Ariz.-based Trillium Management Services Inc. said Nov. 4 that it reached a definitive agreement to acquire Indianapolis-based Geneva Insurance Co. Terms of the deal were not disclosed. Geneva provides personal automobile insurance with a concentration on nonstandard auto insurance and is licensed to write business in Indiana. The company was formed in 1999 by Ronald Glanzman, its sole shareholder. Geneva generated $2.5 million of direct premiums written in 2008, according to SNL statutory data. "This transaction is consistent with Trillium's niche business strategy of acquiring auto insurers with good underwriting results that write business in desirable geographic areas," Trillium President and CEO Bill Star said in a news release. "Geneva is a well run organization and we look forward to the company's continued success as part of Trillium." Subject to regulatory approvals, the companies expect the sale to close in December. Philo Smith & Co. acted as exclusive agent and financial adviser to Geneva. Low & Cohen PLLC provided legal representation for Trillium, and Mitchell Hurst Jacobs & Dick LLP represented Geneva. | 
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