K2 Insurance buys Rockhill’s general liability and gas & propane distribution businesses
Insurance acquisition news : K2 Insurance Services, a specialty insurance services provider has acquired the General Liability and Gas & Propane Distribution businesses of Rockhill Insurance Group for an undisclosed price.
Rochill Insurance Group, which is a Kansas City based specialty insurance company, is owned by the State Automobile Mutual Insurance Company.
According to the California-based K2 Insurance Services, the Gas & Propane Distribution operations will continue at the current office in Conway, Arkansas under its leadership.
As part of the transaction, the specialty insurance services provider will also acquire Partners General Insurance Agency (PGIA), a subsidiary of Rockhill.
Business deal done. Photo courtesy of adamr at FreeDigitalPhotos.net.
K2 President and CEO Bob Kimmel said: “We have known the principals of these diverse business segments for several years and are excited to be bringing their expertise to the K2 platform.”
The terms of the deal will enable the PGIA General Liability operations to continue at its existing locations of Simi Valley in California, Naperville in Illinois, Richmond in Virginia, and Dallas in Texas.
State Auto President and CEO Mike LaRocco said: “This agreement with K2 is an excellent outcome for the General Liability and Gas & Propane Distribution teams. I wish them much success going forward.”
Last year, around this time, K2 Insurance Services had acquired Affinity Specialist Star & Shield Insurance for an undisclosed price. Prior to that in January 2017, its K2 Insurance Services subsidiary Allied Public Risk acquired the WaterPlus, FirePlus, and JPRIMA programs from the Alteris Group.