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American Coastal Insurance Corporation Announces the Sale of its Personal Lines Subsidiary, Interboro Insurance Company
April 1, 2025 - American Coastal Insurance Corporation, a leading provider of insurance products and services, today announced that it has sold its personal lines subsidiary, Interboro Insurance Company, to a private equity firm.
Under the terms of the agreement, the buyer will acquire 100% of Interboro's outstanding shares, effective immediately. The sale is expected to be completed in the next 30 days, subject to customary closing conditions.
"We are pleased to announce the sale of Interboro, which will enable us to focus on our core commercial lines business and further expand our offerings in the specialty insurance market," said [Name], President and CEO of American Coastal Insurance Corporation. "This transaction is a strategic move that will allow us to strengthen our financial position and drive growth in the years to come."
Interboro Insurance Company is a leading provider of personal lines insurance products, including homeowners, auto, and umbrella policies. The company has a strong presence in the Mid-Atlantic region and has been a valued subsidiary of American Coastal Insurance Corporation since its acquisition in 2010.
The buyer, a private equity firm with a strong track record of investing in the insurance industry, plans to continue to operate Interboro as a standalone company, with its existing management team remaining in place.
The sale of Interboro is the latest in a series of strategic transactions for American Coastal Insurance Corporation, which has been actively pursuing growth opportunities in the specialty insurance market. The company has made several acquisitions in recent years, including [list of acquisitions], and has expanded its product offerings to include [list of new products].
American Coastal Insurance Corporation is a leading provider of insurance products and services, with a focus on the specialty insurance market. The company is headquartered in [location] and has a strong presence in the Mid-Atlantic region. For more information, please visit [company website].