M&A Deal Summary

Folksamerica Holding Company Acquires PCA Property and Casualty

On March 31, 2000, Folksamerica Holding Company acquired insurance company PCA Property and Casualty from Humana

Acquisition Highlights
  • This is Folksamerica Holding Company’s 2nd transaction in the Insurance sector.
  • This is Folksamerica Holding Company’s 2nd transaction in the United States.
  • This is Folksamerica Holding Company’s 1st transaction in Florida.

M&A Deal Summary

Date 2000-03-31
Target PCA Property and Casualty
Sector Insurance
Buyer(s) Folksamerica Holding Company
Sellers(s) Humana
Deal Type Divestiture

Target

PCA Property and Casualty

Longwood, Florida, United States
PCA Property and Casualty Co. is a provider of property and casualty insurance products.

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Buyer(S) 1

Buyer

Folksamerica Holding Company

New York, New York, United States

Category Company
Founded 1985
Sector Insurance
DESCRIPTION

Folksamerica Holding Company, Inc., parent company of Folksamerica Reinsurance Company, a multi-line broker market reinsurer, is a wholly owned subsidiary of White Mountains Insurance Group, Ltd.


DEAL STATS #
Overall 2 of 4
Sector (Insurance) 2 of 4
Type (Divestiture) 1 of 2
State (Florida) 1 of 1
Country (United States) 2 of 4
Year (2000) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-12-30 USF Re Insurance

Costa Mesa,, California, United States

USF Re Insurance Company is a provider of property and casualty reinsurance and insurance services.

Sell $16M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-09-25 C/F Insurance

United States

C/F Insurance Co.,operates as a property and casualty insurance company.

Buy $46M

Seller(S) 1

SELLER

Humana

Louisville, Kentucky, United States

Category Company
Founded 1961
Sector Healthcare Services
Employees67,600
Revenue 106.4B USD (2023)
DESCRIPTION

Humana is a managed healthcare company that markets and administers health insurance. Humana operates through three segments. These include Retail, Employer Group, and Healthcare Services. The Retail segment consists of Medicare and commercial fully-insured medical and specialty health insurance benefits, including dental, vision, and other supplemental health and financial protection products, marketed directly to individuals. The Employer Group segment consists of Medicare and commercial fully-insured medical and specialty health insurance benefits, including dental, vision, and other supplemental health and voluntary benefit products. The Healthcare Services segment includes services offered to health plan members as well as to third parties, including pharmacy, provider services, home based services, integrated behavioral health services, and predictive modeling and informatics services. Humana was formed in 1961 and is based in Louisville, Kentucky.


DEAL STATS #
Overall 2 of 6
Sector (Insurance) 1 of 2
Type (Divestiture) 1 of 4
State (Florida) 1 of 1
Country (United States) 2 of 6
Year (2000) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-01-31 Memorial Sisters of Charity Health Network

Houston, Texas, United States

Memorial Sisters of Charity Health Network is all about advancing health. It begins by redefining healthcare. That means bringing together all aspects of the health system - care delivery, physicians and health solutions to create a truly integrated health system.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-01 Ochsner Health Plan

New Orleans, Louisiana, United States

Ochsner Health Plan provides health benefits plans in the New Orleans market and the third largest in the state of Louisiana with approximately 152,000 Commercial medical members, primarily in large group accounts, and approximately 31,000 members in the MedicareAdvantage program.

Buy -