Unitrin, a provider of insurance and consumer finance services, has completed its previously announced acquisition of Primesco, in a cash merger transaction valued at $95.6 million.
Primesco’s wholly owned subsidiaries, Mutual Savings Life Insurance and Mutual Savings Fire Insurance, specialize in the sale of life, health and fire insurance products to persons of modest financial means in Alabama, Georgia, Mississippi and several other states in the southeast.
Donald Southwell, CEO of Unitrin, said: The acquisition of Primesco and its flagship companies, Mutual Savings and Mutual Savings Fire, is an excellent fit for our existing career agency operations and underscores our commitment to grow our career agency business segment and to continue to serve an otherwise underserved part of the life and health insurance marketplace.