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Hudson Insurance Group to Acquire Pennsylvania-Based Allegheny Group
Friday 20 November 2020

New York-based Hudson Insurance Group has agreed to acquire all of the issued and outstanding shares of capital stock of Pennsylvania-based The Allegheny Group, Inc. (AGI) to strengthen insurance offerings, the company said.

Terms of the transaction were not disclosed.

Hudson, by acquiring AGI, is also acquiring AGI's wholly-owned subsidiaries, Allegheny Surety Company. a Pennsylvania insurance company, and Allegheny Surety Agency, Inc. (ASA), the affiliated managing agency.

Pending the approval of the Pennsylvania Insurance Department and other customary regulatory approvals, the acquisition is expected to close within the next 60 days.

Hudson Insurance Group is a speciality insurer that offers a property and casualty insurance products to corporations, professional firms and individuals through retailers, wholesalers and programme administrators.

Hudson Insurance Group is the US Insurance Division of Odyssey Group Holdings, Inc., a provider of reinsurance and speciality insurance. Odyssey Group is wholly-owned by Fairfax Financial Holdings Ltd.
Date Published: 20/11/2020