Alfa Insurance® and Western National Mutual Insurance Co. announced Jan. 24 an agreement for Alfa® to purchase Legacy Insurance Services Inc., pending final regulatory approval.
With the purchase, Alfa acquires the Legacy and Arizona Auto Insurance Company (AAIC) entities, as well as the Nevada General Insurance Company (NGIC) book of business. Western National originally acquired Legacy and AAIC in December 2010.
Legacy Insurance Services is an Arizona-domiciled general agency headquartered in Phoenix and writing exclusively non-standard personal auto insurance. AAIC is an Arizona-domiciled property-and-casualty insurance company writing non-standard personal auto insurance in Arizona and Colorado. NGIC’s book of business includes non-standard personal auto insurance in Nevada.
Alfa President and CEO Jimmy Parnell said the purchase creates opportunities for expansion and diversification through the company’s Trexis subsidiary.
“With this acquisition, Trexis will serve customers in 13 states,” Parnell said. “I’m confident the Trexis team will leverage this stable book of business to continue adding value to Alfa while diversifying our risk. Trexis represents one of our greatest opportunities for growth. This addition provides Trexis a strategic foothold in the high-growth states of Arizona, Colorado and Nevada.”
Western National President and CEO Rick Long said the agreement is strategically strong.
“Western National will renew its focus on its core property-and-casualty operations, while Alfa and its subsidiary Trexis will provide greater resources and scale in the non-standard personal auto market to the Legacy team,” he said.
Alfa acquired Trexis, formerly Vision Insurance Group LLC, in 2005. Since then, the non-standard company has grown its portfolio fivefold.
Trexis is headquartered in Franklin, Tennessee, and serves customers through a network of independent agents.
To learn more about the agreement, visit AlfaInsurance.com.