Posted on 11 Jan 12
Richmond, Va.-based Markel Corp. said it completed its acquisition of Thompson Insurance Enterprises, which operates as THOMCO, and is one of our storefronts.
Financial terms of the deal, announced in December, were not disclosed.
Based in Kennesaw, Ga., THOMCO is a privately held program administrator underwriting multi-line, industry-focused insurance programs. The company manages more than 20 national programs, including medical transportation, senior living, childcare centers, fitness clubs, pest control operators, tanning salons and inflatable rental operators.
THOMCO expects to underwrite in excess of $170 million in gross written premium for the year, using a network of 4,500 producers and 108 employees. Most employees are in the home office in Kennesaw, while some are in branch offices in Kansas City, Mo., and Denver.
Markel officials said THOMCO will continue to operate as a separate business unit with Greg Thompson, THOMCO’s chairman, and Bob Heaphey, the company’s president, leading the operation. The operating unit will be a part of Markel Specialty.
Markel Corp. is a diverse financial holding company serving a variety of niche markets.