SAN FRANCISCO, Jan. 4, 2016 (GLOBE NEWSWIRE) -- NORCAL Mutual Insurance Company (NORCAL) completed its acquisition of FD Insurance (FD), the largest domiciled medical malpractice provider for physicians and surgeons in Florida. This acquisition expands NORCAL's national footprint and establishes Jacksonville, Florida as the company's new Southeast regional office.
"We're very pleased to bring together two physician-focused companies and welcome our new Jacksonville team members. Their expertise in the Florida market strengthens our regional knowledge and reinforces our commitment to the Southeast," said NORCAL President and CEO Scott Diener.
FD Insurance has 25 employees, serves over 2,200 Florida health care providers, and has annualized gross written premium of approximately $28 million.
NORCAL's financial stability has earned an "A" (Excellent) rating from A.M. Best for 32 consecutive years. NORCAL intends to pursue an A.M. Best rating for FD Insurance in the near future.
About NORCAL Mutual
Since 1975, NORCAL Mutual has been a policyholder-owned and physician-directed medical professional liability carrier dedicated to ensuring the availability of affordable and relevant coverage. Along with its subsidiary companies PMSLIC Insurance Company and Medicus Insurance Company, NORCAL Mutual is one of the top ten medical professional liability carriers in the nation, based on direct written premium, and holds an "A" (Excellent) rating by A.M. Best for its financial strength and stability. Learn more on our website at norcalmutual.com.
CONTACT: Sandy Knott, 512-879-5157Source:NORCAL Mutual Insurance Company