Imperial Management Corporation, a portfolio company of Southport Lane, has completed its previously announced acquisition of National Automotive Insurance Company.
National Automotive Insurance Company (NAIC) specializes in providing personal auto insurance exclusively in Louisiana and predominantly within the New Orleans and Baton Rouge metropolitan areas. The company is headquartered near New Orleans in Metairie, LA (www.nationalautomotiveinsurance.net).
The acquisition of NAIC complements IMC’s strategy for organic growth and expansion throughout the Southern United States. The acquisition of NAIC will nearly double Imperial’s auto premium writings in Louisiana. At closing, National Automotive Insurance Company will operate as a subsidiary of IMC, joining Imperial Fire & Casualty Insurance Company, ABC Insurance Agencies and RAC Insurance Partners.
Imperial Management Corporation is organized as a holding company with almost all of its operations being conducted by subsidiaries. Imperial Management’s largest subsidiary, Imperial Fire and Casualty, is rated B+ by A.M. Best and is a provider of insurance products including personal auto, personal property, and flood policies. The company writes policies in Arkansas, Florida, Louisiana, Oklahoma and Texas, and is licensed in the states of Alabama, Georgia, Indiana, Kansas, Kentucky, Mississippi, Missouri, Nevada, South Carolina, and West Virginia. Imperial Management Corporation is also parent to wholly owned subsidiaries ABC Insurance Agencies and RAC Insurance Partners. Imperial Management is headquartered in Opelousas, LA (www.imperialfire.com).
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, its 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).
© 2013 PEPD • Private Equity’s Leading News Magazine • 12-3-13
