Electric Insurance has signed renewal rights agreement with Millers First Insurance and Millers Classified Insurance to offer renewal quotes for its preferred personal lines business.
As part of the agreement, the company will provide renewal quotes for preferred direct response personal automobile, homeowners and related insurance policies in Wisconsin, Illinois and Missouri, US.
Electric Insurance Sales and Marketing vice president Michael Mucher said, "This transaction allows us to add to our presence in the Midwest and strengthen our book of business."
Apart from expanding direct-to-the-consumer personal lines business, the agreement also provides policyholders with access to one of the best customer service departments in the insurance market.
Philo Smith Capital served as exclusive financial advisory on this transaction.
Established in 1966, Electric Insurance is a provider of personal and commercial lines insurance products across the US.