Premium Financing Specialists, Inc., Closes Its Acquisition of Universal Premium Acceptance Corp.

Jan 04, 2010, 12:00 ET from Premium Financing Specialists, Inc.

KANSAS CITY, Mo., Jan. 4 /PRNewswire/ -- Premium Financing Specialists, Inc. (PFS), one of the largest, independent premium finance companies in the United States, announced today it has closed the acquisition of another Kansas City metro area-based premium finance company, Universal Premium Acceptance Corp. (UPAC). The combined company of almost 300 employees will support approximately 13,000 insurance agent and broker clients and generate well over $4 billion in financed premium.

UPAC has been known in the industry for its focus on "Main Street" agencies, as well as its easy-to-use technology. Mike Gallagher, PFS President and COO, stated, "The combination of PFS and UPAC strengthens us as a strong, independent force in the premium finance industry. We are excited at the opportunities that the combined service and technology expertise of the two companies will present for current and new clients."

The company will maintain the UPAC headquarters site in Lenexa, KS as a branch office location.

ABOUT PREMIUM FINANCING SPECIALISTS

Premium Financing Specialists offers property and casualty insurance agents and brokers financing options for their customers' insurance premiums. Founded in 1977 in Kansas City, MO, the company operates under a branch office concept to provide PFS clients nationwide expertise with local service.

SOURCE Premium Financing Specialists, Inc.



RELATED LINKS

http://www.premiumfinance.com