SUA Insurance Company announces name change to CastlePoint National Insurance Company. Illinois, the state of domicile has adopted the change and other States will be filed on a state by state basis. Consistent with its business practices, A.M. Best Company lists the company under the new name, even though the company still operates under the name SUA Insurance Company in some jurisdictions and is required to operate under that name until appropriate regulatory approvals are received.
NEW YORK – November 13, 2009 -- Tower Group, Inc. ("Tower"; NASDAQ: TWGP) announced today that it has completed the acquisition of Specialty Underwriters' Alliance, Inc. ("SUA"; NASDAQ: SUAI). The transaction is valued at $107 million based on Tower's closing price. Tower announced a definitive agreement to acquire SUA on June 22, 2009. All closing conditions have been met.
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There’s a perception that certain businesses are more difficult to insure than others. They take up too much time and too many resources, say the stodgy insurance companies. There’s too big a learning curve, the mega-conglomerates say. They require a highly specialized expertise, say the old-fashioned big guys.
And they’re right. Maybe that’s why they bounce in and out of the tougher markets all the time.
But what if an insurance company took a closer look? What if those challenges were viewed as opportunities? What if someone took the time to find out what makes niche markets tick?
At SUA Insurance Company, we know that the best businesses in the most complex markets need insurance stability. We’ve made a long-term commitment to gain an intense understanding of the true nature of the risks inherent in insuring these unique customer groups. Our programs are developed to fit their individual needs and provide the right coverage to businesses that other insurance companies consider difficult.
At SUA, we take a closer look.
Learn more about the SUA philosophy.
