SANDY SPRINGS, Ga., Dec. 15, 2020 /PRNewswire/ — Embark General, through its wholly owned subsidiary Nations General Insurance Agency LLC, has agreed to the assumption of the Texas and Alabama auto insurance business of Houston based ACCC insurance company. The assumption of the business will be effective December 1st, 2020, and is still subject to final court approval. This will be Embark General’s third acquisition since its inception.
ACCC insurance was placed into receivership on October 21st, 2020, at the request of the Texas Department of Insurance and the application for liquidation was filed November 24th, 2020. ACCC is privately held and offers its insurance products in Alabama, Georgia, Mississippi, New Mexico and South Carolina.
«Embark General has an exceptional reputation in the non-standard market,» said Embark General’s President, Bill Caldwell. «We are committed to sound financial growth through a combination of strategic acquisitions and responsible product pricing in our existing markets. This is our third acquisition of this type and we have developed a core competency in efficiently transitioning distressed books of business on to our platform. We look forward to delivering the outstanding products and services that our new ACCC clients deserve.»
Embark General is actively working with the Texas Department of Insurance and Special Deputy Receiver (SDR) to ensure a smooth transition. Additional communication will be provided directly to ACCC clients and agents.
Embark General delivers property and casualty insurance programs through a network of independent insurance producers and has operations in Texas, Florida, Georgia, and California, with affiliated offices in Sandy Springs, Georgia and Orange County, California. Embark General concentrates on the non-standard personal automobile insurance market with additional product offerings in property and small commercial.
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SOURCE Embark General