December 30, 2009
Western National Insurance Group Completes Purchase of Titan Property & Casualty Insurance Company
Western National Insurance Group of Edina, Minn. today announced that it has completed its purchase of Titan Property & Casualty Insurance Company of Monee, Ill. This closing follows due diligence and the receipt of approval by Titan shareholders, Western National Mutual’s Board of Directors, and regulatory authorities.
Titan Property & Casualty Insurance Company will continue to operate locally in Illinois as a separate entity writing commercial lines, under the ultimate management and control of Western National.
”With the sale closed, we can now move forward in working with Titan’s fine staff and independent agency partners to grow our presence in the Midwest,” said Stuart Henderson, president and chief executive officer of Western National. “Between the greater geographic diversification and the addition of Titan’s book of business, our newly expanded group of companies is well positioned to increase profit and enhance stability for our mutual policyholders.”
Western National Insurance Group, headquartered in Edina, Minn., is a super-regional property-and-casualty insurance group writing over $240 million in Direct Premium in ten states. The group now consists of four active companies (Western National Mutual Insurance Company, Western National Assurance Company, Pioneer Specialty Insurance Company, and Titan Property & Casualty Insurance Company) serving personal and commercial customers in Minnesota, Nevada, Oregon, South Dakota, Utah, Washington, and Wisconsin, as well as commercial customers in Iowa, Illinois, and North Dakota. All of the group’s products are sold exclusively through professional independent agents.
For further information, please contact:
Mary S. Manley
SVP Corporate Affairs & Administration