American Financial Group Acquires ABA Insurance Services
October 11, 2018
American Financial Group, Inc. agreed to acquire ABA Insurance Services Inc. from American Bankers Mutual Insurance, Ltd. for approximately $28 million in cash. ABAIS, based in Shaker Heights, Ohio, will continue to operate under its brand and become Great American Insurance Group’s 34th specialty P&C business unit; the business is expected to contribute about $50 million in annual net written premiums.
- Buyers
- American Financial Group, Inc.
- Targets
- ABA Insurance Services Inc.
- Sellers
- American Bankers Mutual Insurance, Ltd.
- Industry
- Insurance
- Location
- Ohio, United States
- Transaction Type
- Buyout
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