Content area
Full text
Federated National Holding Co. has struck a deal to buy the rest of the Monarch Delaware Holdings LLC joint venture that owns Florida-based homeowners insurance carrier Monarch National Insurance Co.
Federated National agreed to purchase Crosswinds Investor Monarch LP's class A membership interests in Monarch Delaware Holdings for $12.3 million and Transatlantic Reinsurance Co.'s membership interests for $4.4 million. Federated National and Crosswinds Investor Monarch each currently own 42.4% membership interests in Monarch Delaware Holdings, and Alleghany Corp. unit Transatlantic Reinsurance...