BIRMINGHAM, Ala., April 22, 2015 /PRNewswire/ -- Infinity Property and Casualty Corporation (NASDAQ: IPCC), today announced the closing of its $20 million purchase of The Birmingham News building located at 2201 4th Avenue North in downtown Birmingham, AL. The purchase, which was completed yesterday, was made with internally generated funds. The 120,493 square foot building will serve as Infinity's new headquarters and replace its current, leased headquarters. The acquisition of the building is expected to reduce net operating expenses once employees are relocated to the new headquarters, which the company anticipates will occur in the first or second quarter of 2016.
Infinity Property and Casualty Corporation (NASDAQ: IPCC) is a national provider of personal automobile insurance with a concentration on nonstandard auto insurance. Its products are offered through a network of approximately 11,800 independent agencies and brokers. For more information about Infinity, please visit http://www.infinityauto.com.
SOURCE Infinity Property and Casualty Corporation