Crum&Forster Buys Transnational.(Brief Article)

National Underwriter Property & Casualty-Risk & Benefits Management, January, 2001

Crum&Forster in Morristown, N.J., has acquired Transnational Insurance Company, an excess and surplus lines company, from PXRE Corp. of Bermuda, Crum&Forster announced. In a statement, Crum&Forster, a unit of Toronto-based Fairfax Financial Holdings Ltd., said that all pre-acquisition business and liabilities will be assumed by PXRE in the deal.

No other details of the transaction were disclosed. Crum&Forster said the acquisition, which will be renamed Crum&Forster Specialty, will be headed by Douglas Libby, who is also the president and chief executive officer of Seneca Insurance Company--a company that Fairfax acquired last year. In its announcement, Crum&Forster said the acquired company will focus on "unique and unusual classes of business where...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.