For Immediate Release
Sirius sells Ashmere Insurance Company to National Fidelity
October 12, 2016– National Fidelity Holdings Inc. has acquired Glastonbury, Conn. -based Ashmere Insurance Co. from Sirius, a subsidiary of Hanover, N.H.-based White Mountains Insurance Group Ltd.
White Mountains Solutions, a White Mountains Insurance Group Ltd. company, agreed to acquire American Fuji in December 2012 from AIG, and renamed the company as Ashmere Insurance Co. when the deal closed in 2013. Ashmere was now acquired by National Fidelity Holdings Inc. in a deal the South Florida-based Daily Business Review reported to be valued at $15.4 million.
Ashmere’s website states that the company plans to offer small and rural customers access to insurance solutions previously unavailable in their markets. S&P Global Market Intelligence has obtained initial rate, form and/or rule filings submitted in the company’s name to write workers’ compensation business in several states, including Florida, Indiana, North Carolina and South Carolina. Ashmere’s new offices are located at 401 East Las Olas Blvd. in Fort Lauderdale, Fla.
Ashmere Insurance Company provides fire, marine, and casualty insurance products.
Merger & Acquisition Services Inc. served as advisor to Sirius Global Solutions.
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.