Multi-line insurance carrier Safety National Casualty has acquired Midlands Management, a managing general agent (MGA), a wholesale broker and an insurance services provider with a specialty in excess workers’ compensation.
As a result of this transaction, Midlands Management Corporation is now a wholly-owned subsidiary of Safety National and a member of the Tokio Marine Group.
Safety National CEO Mark Wilhelm said: “We are very excited about this opportunity. Safety National is gaining a specialty MGA with a successful long-term track record, proven leadership and a talented team of customer-focused employees.”
Safety National’s and Midlands’ executive teams will remain intact and the acquisition will have no effect on Midlands’ day-to-day operations. There are no plans to make any personnel changes and Midlands’ headquarters will remain in Oklahoma City, OK.
Safety National president Duane Hercules said: “It is business as usual for Midlands from an operations standpoint, but not from an offerings perspective. Midlands’ customers will continue working with their existing Midlands’ contacts, however, they will gain access to new products and services backed by an A+ rated carrier.
“In turn, Safety National gets the opportunity to offer its market-leading products and services to an expanded audience. We are enthusiastic about our future together.”
Source: Company Press Release