Old Republic International Corporation acquired Aon Construction Program Group (Special Risk Resources Insurance Agency, Inc. and Special Risk Resources Insurance Agency of New York, Inc.) for USD 85 million, a transaction announced in November 2006.
Old Republic, through subsidiary Old Republic Insurance Company, bought Aon's Construction Program Group division — including policy renewal rights, related assets, and the in-force portfolio written through Virginia Surety Company — to expand its specialty commercial construction insurance book.
Old Republic, through subsidiary Old Republic Insurance Company, bought Aon's Construction Program Group division — including policy renewal rights, related assets, and the in-force portfolio written through Virginia Surety Company — to expand its specialty commercial construction insurance book.
The purchase price was $85 million in cash. The acquisition closed on November 30, 2006.
Advisory firms were not disclosed for this transaction.