Sheboygan Falls Insurance acquired
The Business Journal of Milwaukee
Donegal Insurance Group Inc. reported Wednesday that it had completed the acquisition of all of the outstanding capital stock of Sheboygan Falls Insurance Co.
The acquisition consideration was approximately $12 million, which includes a surplus contribution of $8.5 million to support the future premium growth of Sheboygan Falls Insurance Co.
Sheboygan Falls Insurance, which operates only in Wisconsin, underwrites a broad line of personal lines products, including auto, homeowners, dwelling fire and umbrella coverages. The Sheboygan Falls-based company also underwrites commercial products, including commercial package policies, commercial fire, general liability and workers’ compensation.
Donald Nikolaus, president and CEO of Donegal Insurance Group, Marietta, Penn., said the acquisition represents a continuation of the company’s plans to expand into the Midwest.
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