The shareholders of both Meadowbrook Insurance Group and ProCentury, a specialty property and casualty insurance holding company, have approved their merger.
Meadowbrook and ProCentury have announced plans to merge in February 2008 and expect the transaction to close in the third quarter of 2008, pending receipt of remaining regulatory approvals and other customary closing conditions.
Robert Cubbin, president and CEO of Meadowbrook Insurance Group, said: The Meadowbrook and ProCentury management teams have been working together diligently to ensure a smooth transition to form one cohesive organization. Many initiatives are underway to develop the numerous growth opportunities created by this merger of two strong, experienced and disciplined operations.
Edward Feighan, chairman and CEO of ProCentury, added: We believe that the combined strengths of our two specialty lines insurance companies creates exciting opportunities for both companies’ employees, agents and shareholders that did not exist before the merger.