First Mercury Financial has sold its wholly owned subsidiary American Risk Pooling Consultants and its affiliates to York Insurance Services Group. The terms of the transaction were not disclosed.
American Risk Pooling Consultants and its affiliates (ARPCO) provides pool administration services, including underwriting, claims, loss control/risk management, and reinsurance to a variety of self-insured public entity pools.
With this transaction, ARPCO will become part of York Risk Management Services, a division of York Insurance Services that specializes in public entities, such as cities, townships, special districts, and schools throughout the country.
Richard Smith, chairman and CEO of First Mercury, said: We believe York offers a good fit for ARPCO, its customers and employees and will enhance ARPCO’s tradition of excellent customer service. At the same time, the proceeds of the sale will allow First Mercury to pursue opportunities consistent with our core strategy of entering new specialty niche property/casualty insurance products and market segments.