Anchor Insurance Holdings Has Purchased Southeast Surplus Underwriters General Agency, Ranchers And Farmers Insurance Company And Spindletop Premium Finance

We are excited to announce that Anchor Insurance Holdings is purchasing Southeast Surplus, Spindletop Premium Finance, and Ranchers and Farmers Insurance Company from Mirage Interest, Inc. Ted Moor, Jr., Chairman of Mirage stated that "it was a difficult decision to sell, but I believe that we found an ideal purchaser in Anchor."


Wes Shipley, President of Ranchers and Farmers Insurance Company, added that "the purchase by Anchor will allow us to make many of the changes our agents have been requesting - additional capacity in certain areas, higher property limits, and new products." He went on to say that "our day-to-day operations will remain the same. We'll continue to operate out of our Beaumont offices. There will be no personnel changes. All of our staff that our agents have worked with through the years will remain the same. Our agents will continue to conduct business with us in the same way after the sale, as they did before the sale."


The sale is expected to close before the end of the year. Mitch Sattler, President of Anchor, stated that "we will be working closely with the staff in Beaumont to ensure that the transition will occur seamlessly so that our agents and their customers will continue to receive the quality service that they've come to expect over the years." He went on to state that "This combination of companies will allow us to add more products, more services, and cover a broader geographic area. We feel very fortunate to be able to join forces with Southeast, Spindletop, and Ranchers and Farmers Insurance Company. They have an outstanding reputation, and provide us with an outstanding platform to build and expand upon in the future."


Anchor Insurance was recently founded by a team of highly experienced insurance professionals with expertise in leading and growing successful property insurance companies. According to Jennifer Pintacuda, Chief Financial Officer of Anchor, "We are committed to making this acquisition a success, both from a customer experience standpoint and financially. By way of capital infusion, we will double the insurance company surplus, allowing us to grow and deliver on the plans we have made. This extra capital will also provide us with significant reinsurance buying power we need to protect the company and meet our claims obligations while we expand and add capacity."


More information about Anchor will soon be available at RelyOnAnchor.com.

 

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If you have any questions, or need any additional information, contact Glenn Moor by emailing him at gmoor@ssuga.com, or calling him at (800) 554-3301 ext. 718.

Did you know?

You can add the bank draft payment option to existing Spindletop Premium Finance notes so long as the payments are current when the change is made. Contact Debbie Amy at (800) 800-2684 ext. 710 to learn more.