Plymouth Rock Assurance to buy MAPFRE Insurance, spread in New York
Staff Writer | June 15, 2018
Plymouth Rock Assurance Corporation reached agreement to continue its expansion into the New York State insurance market with the acquisition of MAPFRE Insurance Company of New York, subject to regulatory approvals.Article continues below
The transaction involves both personal auto and home insurance business in New York. Additionally, certain Plymouth Rock companies also acquired replacement carrier rights for auto and home insurance business in New Jersey from American Commerce Insurance Company (ACIC), a MAPFRE company.
The acquisition follows Plymouth Rock Assurance Corporation’s announcement in April that it had entered the New York auto and home insurance market by purchasing 21st Century National Insurance Company.
Plymouth Rock intends to offer auto and home insurance policies to new customers in New York later this year, pending regulatory approval.
The company has a 35-year history of providing exceptional service and innovative products and features to its customers, including the Crashbusters® mobile claims vans, Door to Door Valet Claim Service® and its Pledge of Assurance®.
In New Jersey, Plymouth Rock will strengthen its position by offering replacement policies to auto and home insurance customers of ACIC.
Auto insurance policies will be offered by Palisades Safety and Insurance Association, and home insurance policies will be offered by Palisades Property and Casualty Insurance Company.
With annual premiums exceeding $1.3 billion, the Plymouth Rock Group of Companies writes and manages auto and home insurance in Connecticut, Massachusetts, New Hampshire, New Jersey, Pennsylvania and now, New York.
With its intention to write new business in the Empire State this fall, the company is poised for future growth in New York and across the Northeast. ■ What to read next
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