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Norcal Mutual Insurance Co. said Monday that it has completed its acquisition of Jacksonville, Florida-based FD Insurance.
The terms of the deal were not disclosed.
FD Insurance is a medical malpractice provider for physicians and surgeons in Florida.
FD Insurance has 25 employees, serves over 2,200 Florida health care providers, and has annualized gross written premium of approximately $28 million, according to San Francisco-based Norcal's statement.
“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,” Norcal President and CEO Scott Diener said in the statement.
French insurer AXA S.A. said that it has completed the acquisition of Brazilian insurer SulAmerica S.A.'s large industrial and commercial risk subsidiary, reports El Economista.