Obsidian snaps up Western Dwelling

0
144

Obsidian Insurance Holdings announced the acquisition of licensed insurance carrier Western Home Insurance Company from Western National Mutual Insurance Company.

The acquisition supports Obsidian’s strategic growth plans. Together with Obsidian’s existing licensed insurance company, Obsidian Insurance Company, Western Home will provide Obsidian’s program managers with access to nationally licensed insurance capabilities, including the California marketplace. Obsidian also offers surplus and surplus capabilities through its surplus line carrier Obsidian Specialty Insurance Company.

Western Home is a Minnesota domestic airline with headquarters in California. It has powers of attorney in five other states. It will be renamed after the acquisition is complete, Obsidian said.

Read more: Obsidian Appoints New Chief Underwriting Officer

“The addition of Western Home to the company’s presence is an exciting move for Obsidian, which will enable its senior partners and new program administrators to gain broad access nationwide,” said William Jewett, CEO of Obsidian. “This acquisition is a significant step in the continued growth of Obsidian.

“The expansion into the California market comes at the right time so that Obsidian’s existing and new portfolio partnerships can grow in a robust insurance market. Obsidian’s infrastructure and capabilities are now largely in place to support Obsidian’s growth strategy and value proposition for program administrators and reinsurers. “