CRM Holdings, Ltd Embarcadero corresponds to acquire insurance.
Embarcadero subsidiary, Majestic Insurance, is a license to the USA and Carrier Workers’ compensation insurers in the Western USA
Hamilton, Bermuda, Sept. 11 / PRNewswire / - CRM Holdings, Ltd. ( “CRM” or “the Company”), a leading provider based management fee and other services for Workers’ Compensation provided by themselves groups in New York and California, A announced today it has been a definitive agreement for the adoption of Embarcadero Insurance Holdings, Inc. ( “EIH”), in a private property located in California with headquarters in San Francisco. All of the consideration to the burden of CRM is the value of EIH the last day of the transaction. CRM considers the purchase price at about $ 45 million. The purchase, it is not necessary approval of shareholders, but also other customary closing conditions, including the administrative authorization. CRM expects that the resumed completed before the end of 2006.
EIH, by its wholly-owned subsidiary, Majestic Insurance Company ( “Majestic”), written Workers’ Compensation insurance for medium and large enterprises. Majestic is a resident of California insurance license in fifteen countries and is currently in California, Arizona, Alaska, Nevada, Oregon and Washington. In June 2006 he was ranked Majestic B + + with a positive view on the best.
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