Lansing’s Auto-Owners Insurance has entered into a definitive agreement to acquire Capital Insurance Group in California. Details of the acquisition were not disclosed.
Auto-Owners is a multi-line property and casualty insurer operating through independent agencies in 26 states. It also owns a life insurance company, an excess and surplus lines company, and is affiliated with Concord General Mutual Insurance Co. in New Hampshire.
“Capital Insurance Group is the premier regional independent agency carrier on the West Coast,” says Jeff Tagsold, chairman and CEO of Auto-Owners. “Adding Capital Insurance Group and its affiliates to the Auto-Owners family of companies expands our operating footprint into four additional states, providing access to more families and businesses to insure, and giving us even greater geographic diversification.”
Capital Insurance Group is a property and casualty insurer that was founded in 1898. It insures personal lines and commercial and agricultural businesses in California, Washington, Oregon, Nevada, and Arizona.
“We are eager to build on our 120-year legacy by aligning ourselves with Auto-Owners, a carrier committed to the independent agency system operating with high integrity and core values that align well with our own,” says Arne Chatterton, president and CEO of Capital Insurance Group.
Auto-Owners Insurance was established in 1916 and writes more than 5 million policies. It offers life, home, auto, and business insurance.
The acquisition is pending regulatory approval.
