Thorson Insurance Services, a nationwide insurance services and distribution platform based in Westlake Village California has closed on its acquisition of PrimeOne Insurance Company; a Michigan based multi-line property and casualty insurance carrier. Thorson companies include Thorson Specialty Insurance Services, a specialized retail insurance brokerage agency; Thorson Associates Inc., managing general agent that is the exclusive program manager for Fairway Physicians Insurance Company and Risk Management Services, a third party claims administrator. The acquisition expands Thorson’s risk bearing capabilities allowing it to underwrite niche insurance and capitalize on selective profitable underwriting opportunities across selected property and casualty insurance markets.
TAG Financial Institutions Group, LLC advised on the acquisition of PrimeOne and arranged the acquisition debt facility for Thorson. The Transaction and financing closed on December 31, 2014.