American Traditions Insurance Company (ATIC) has announced it is to merge with affiliate Modern USA Insurance Company (MUSA), in a deal that sees ATIC become one of the largest manufactured home insurers in Florida.
The two companies were launched in quick succession by a team of insurance professionals and investors, in response to the devastation inflicted by the 2004 and 2005 hurricane seasons.
MUSA policyholders will be notified of the merger, however since the affiliate companies offer identical rates and products, impact will be minimal.
Commenting on the merger, T John Jerger, Jr, President, said, “We could not be more pleased with this merger and what this means for the future. Combining the affiliates will allow management to better plan for future opportunities.”
“The merger means a larger company with more surplus for our policyholders. It also gives us the ability to strategically focus on growth in niche markets that allow the company to flourish more than ever before.”
Thomas Jerger, Chairman and Chief Executive Officer (CEO), added, “We have introduced many innovative insurance products to the Florida marketplace over the last 12 years and feel that now is a great time to combine the companies under the American Traditions Insurance Company brand. We are excited about the merger and it will allow us to streamline many processes in order to serve our policyholders more efficiently.”
