For Immediate Release
Mirage Interest to sell Ranchers and Farmers Insurance, affiliates
New York, New York — September 9th 2014 – Anchor Insurance Holdings is purchasing Beaumont, Texas based Southeast Surplus Underwriters General Agency, Spindletop Premium Finance, and Ranchers and Farmers Insurance Co. from Mirage Interest Inc.
Day to day operations of the companies in their Beaumont location will remain the same. The sale is expected to close before the end of the year.
Anchor Insurance was recently founded by a team of experienced insurance professionals. Its executive team includes President Mitch Sattler and Chief Financial Officer Jennifer Pintacuda.
Pintacuda, stated that with the capital infusion provided by Anchor, “we will double the insurance company surplus, allowing us to grow and deliver on the plans we have made. This extra capital will also provide us with significant reinsurance buying power we need to protect the company and meet our claims obligations while we expand and add capacity.” Merger & Acquisition Services served as the financial advisor to Mirage.
About Merger & Acquisition Services, Inc.
Merger & Acquisition Services, Inc. is a specialist advisory and financial services Firm to the insurance and reinsurance industry, with offices in New York, Connecticut, Georgia & Cayman Islands. Founded in 1999, the Firm and its affiliates provides investment banking and insurance consulting services globally, including; merger & acquisition advisory capital raising, valuations, program placement/fronting, and reinsurance advisory. Merger & Acquisition Capital Services, LLC., a registered broker-dealer and member FINRA / SIPC, is an affiliate of Merger & Acquisition Services, Inc.
To learn more about Merger & Acquisition Services, visit https://maservices.com.