Service Lloyds Insurance Co. Parent, Service Insurance Holdings, Inc., Acquires American Healthcare Indemnity Co.
Longtime Texas workers compensation provider sees new opportunity and augmented reach with acquisition
AUSTIN, Texas, March 20, 2018 /PRNewswire/ -- Building on a mainstay practice area while expanding its geographic reach, privately held Service Insurance Holdings, Inc. (SIHI), parent of Texas-based Service Lloyds Insurance Company, announced today the acquisition of American Healthcare Indemnity Company (AHIC), an Oklahoma-based insurer. The new entity will be rebranded as Service American Indemnity Company.
A primary goal of the acquisition is the augmentation and gradual expansion of the company's business geographically. The acquisition will allow Service American Indemnity Company to write workers compensation insurance in up to 48 states. The new entity will also identify and introduce new programs that will create significant opportunities for growth and profitability.
"The launch of Service American Indemnity Company, integrated with Service Lloyds, represents one of the first steps in our strategy to execute measured, organic growth into targeted areas over the next few years," said J. Kelly Gray, CEO of SIHI. "It will allow us to continue our tradition of unparalleled service in the workers compensation market as well as be responsive to the growing needs of customers and stakeholders."
The acquisition will result in a planned pooling and reinsurance agreement under SIHI, and will result in the addition of significant new resources. The business will remain headquartered in Austin.
About Service Lloyds
Service Lloyds is proud to be a Texas-owned and -operated carrier offering workers compensation to Texas employers since 1982, and in other jurisdictions more recently via strategic partnerships. The company's customer approach involves not only providing agents and policyholders with a quality workers compensation product, but also with the support and personal service that makes Service Lloyds a leader in customer service in the industry. Every day the company delivers on its promise that "Service is more than our name…It is our way of doing business."
SOURCE Service Lloyds Insurance Company
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