Dallas, Feb. 8 /PRNewswire/ -- Republic Companies, Inc. (Republic)
announced that it has acquired Four Corners Insurance Services, Inc.
(Four Corners), a general agency based in Phoenix, Arizona. Four Corners
specializes in non-standard auto insurance coverages produced through
independent insurance agents in Arizona, Oklahoma, Oregon, Utah and
Washington, D.C. Philo Smith Capital Corp. served as Four Corners' broker in
this transaction.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050801/REPUBLICLOGO)
"We are excited about our acquisition of Four Corners," said Parker W.
Rush, President & Chief Executive Officer of Republic. "Four Corners will
provide a proven profitable platform for writing non-standard auto business
with its advanced policy management system and help us to provide bilingual
services to the growing Hispanic market and expand our geographic reach. In
addition, we plan to have Four Corners provide its services to develop
non-standard auto business products for us in Louisiana, Mississippi and
Arkansas over the next several months. We are pleased to welcome Mitchel
Slater, President, and Robert Heveri, Vice President, of Four Corners, and
their team to our organization, and we look forward to the company's continued
success as part of The Republic Group."
Mitchel Slater commented, "We are very pleased and energized by our sale
to The Republic Group. This affords Four Corners the opportunity to expand our
geographic spread and deliver enhanced personal lines services and products to
our loyal agency force. We eagerly look forward to the future and bringing to
our markets all the resources that The Republic Group has to offer."
About Republic
Republic Companies, Inc. provides personal and commercial property and
casualty insurance products through a group of insurance companies and related
entities designated in the industry as "The Republic Group". In its
Independent Agents segments, Republic distributes these products to
individuals and small to medium-size businesses through a network of
independent agents primarily in Texas, Louisiana, Oklahoma, New Mexico,
Mississippi and Arkansas. In its Program Management and Insurance Services
segments, Republic capitalizes on its unique combination of charters and
licenses to develop and manage target-niche insurance products that are
distributed through managing general agents and other producers in many
additional states. Visit http://www.RepublicGroup.com for more information.
Republic Companies, Inc. is owned by Delek Capital Ltd., a majority-owned
subsidiary of Delek Group Ltd.
SOURCE Republic Companies, Inc.
Michael E. Ditto, Esq., Vice President, General Counsel and Secretary of
Republic Companies, Inc., +1-972-788-6000
