Rockwood Buys Rest of Modern Insurance
The deal follows many others in the insurance sector
Rockwood Programs has acquired the remaining interest in Modern Insurance Consultants LLC.
The buyer originally purchased a majority stake in December 2008.
Homestead, Fla.-based Modern Insurance provides liability and other insurance products. Rockwood, headquartered in Wilmington, Del., also provides insurance products, including errors and omissions coverage. Terms of the deal weren’t disclosed.
The transaction follows many others in the insurance sector. In January, USI Insurance Services wrapped up deals for both Welsch Flatness and Lutz Inc. and Construction Insurance Partners. Hub International Ltd. bought Insurance Solutions Inc., and Edgewood Partners Insurance Center agreed to buy Homeplace Insurance Brokers Inc., also in January.
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