K2 Insurance Services has acquired the general liability and the specialty insurance businesses of a State Automobile Mutual Insurance subsidiary.
Rockhill Insurance Group has agreed to the sale of its general liability and gas & propane distribution lines of businesses to K2. The transaction also includes K2’s purchase of Partners General Insurance Agency (PGIA), a subsidiary under Rockhill.
A release said that the PGIA general liability operations will continue in its current locations of Simi Valley, CA; Naperville, IL; Richmond, VA; and Dallas, TX. The gas & propane distribution operations, on the other hand, will continue under the direction of K2 in its current Conway, AR office.
Terms of the transaction were not disclosed.
“We have known the principals of these diverse business segments for several years and are excited to be bringing their expertise to the K2 platform,” said K2 president and CEO Bob Kimmel.
“This agreement with K2 is an excellent outcome for the General Liability and Gas & Propane Distribution teams,” added State Auto president and CEO Mike LaRocco. “I wish them much success going forward.”
