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Employers Holdings acquires AmCOMP for $223.5 million
By Lisa Kerner
Charlotte, N.C., Oct. 31 - Employers Holdings, Inc. acquired AmCOMP Inc. for approximately $223.5 million, including the assumption of approximately $35.1 million in debt.
The acquisition expands Employers Holdings' workers' compensation insurance operations to 29 states and 17 branch offices, a company news release said.
Under the companies' merger agreement, shareholders of AmCOMP, a North Palm Beach, Fla., property and casualty insurer, received $12.15 per share in cash.
Employers Holdings, a Reno, Nev.-based workers' compensation insurance provider, said it financed the purchase through a combination of cash and debt.
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