NEW YORK -- Willis Group Holdings Ltd., the global insurance broker, has announced the asset acquisition of Carter Insurance Group Inc., Tampa, Fla.
Carter is an underwriting manager and program administrator specializing in franchised auto, truck, RV dealers and auto/truck service businesses. Carter Insurance Group will be part of Willis' Programs Practice. The terms of the transaction were not disclosed.
Founded in 1927, Carter Insurance Group serves independent insurance agents and brokers in 49 states in the auto and auto [image-nocss] service industries. Car-Pac(C), one of Carter Insurance Group's key programs, writes property and casualty insurance for auto, truck and RV dealerships. Its Auto Service Center(C) program is comprehensively designed to meet the needs of auto and truck service centers, parts stores, tire stores, convenience stores with gasoline services and more.
The management and staff of the Carter Group will remain with the company and no immediate changes in operations are planned.
Our acquisition of Carter Insurance Group is consistent with our stated approach to acquisitions for growth, said Joe Plumeri, chairman and CEO of Willis. We've got a strong programs business and are committed to growing it in a directed and meaningful way. Carter brings strength to an important sector of the economy and we look forward to growing this business together.
Willis Group, New York, is a global insurance broker, developing and delivering professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world.
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