Royal to buy U.S. insurers
Royal Group of London, one of the largest British insurance companies, said yesterday that its U.S. subsidiary, Royal Insurance, planned for the acquisition of Milbank Mutual Insurance Company of Milbank, SD What is an entry in a Staat”Bereich nine, where we would like to develop,”Royal Group said a spokesman.
The acquisition, still in planning stage, will require various regulatory approvals, “he said.
Milbank, wrote coverage with net premium income of $ 48 million in 1981, operates independent sponsor to North Dakota, South Dakota, Minnesota, Montana, Colorado, Idaho, Iowa, Nebraska and Utah. A small regional company, it focuses on automobile and homeowners insurance.
Royal Insurance is a large number of insurers, ie it offers a variety of reports, inter alia, a life, damage and accidents. In 1981, he wrote insurance with net premiums of $ 1.1 billion in this country.
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