Private equity firm Southport Lane, through its subsidiary Lonestar Holdco, has reached an agreement with Dallas National Insurance Holdings to acquire 100% of Dallas National Insurance Company, a Texas based property and casualty insurer.
Dallas National Insurance Company is a property and casualty insurance company which writes predominantly worker’s compensation and general liability insurance. The company was formed in 2005 as a result of a merger between Dallas Fire Insurance Company, which commenced operations in 1962, and California Indemnity Insurance Company, which began business in 1988. Dallas National Insurance Company is based in Dallas, TX (www.dallasnationalins.com).
“We are committed to providing additional capital to strengthen Dallas National and provide further security to policyholders,” said Glenn Weber, CEO of Southport Re, Southport Lane’s reinsurance affiliate. “This acquisition underscores our long-term strategic interest in building a significant presence in the insurance sector. Dallas National enjoys a large pool of clients throughout the U.S., complementing our insurance and reinsurance operations.”
Southport Lane is a private equity firm founded in 2010 with investments in insurance and reinsurance. Among the firm’s portfolio investments is Southport Re, platform for Alternative Risk Transfer activities. The firm is headquartered in New York and has total capital commitments in excess of $1 billion (www.southportlane.com).