Specialty insurer Markel Corp., based in Richmond, Virginia, is acquiring national program administrator THOMCO.
Headquartered in Kennesaw, Georgia, Thomco manages 20 national programs including ones for medical transportation, senior living, childcare centers, fitness clubs, pest control operators, tanning salons and inflatable rental operators, among others.
Thomco will continue to operate as a separate business unit with Greg Thompson and Bob Heaphey, current chairman and president, respectively, leading the operation. The operating unit will be a part of Markel Specialty.
Completion of the transaction expected to occur in the first quarter of 2012. Terms of the transaction were not disclosed.
Thomco said it expects to underwrite in excess of $170 million in gross written premium in 2011. The firm produces business through a network of 4,500 producers and has 108 employees, with the majority located at the home office in Kennesaw in addition to branch offices in Kansas City and Denver.