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Delaware regulator sets hearing for Transverse Insurance/Arrowood deal

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Delaware regulator sets hearing for Transverse Insurance/Arrowood deal

The Delaware Department of Insurance set a public hearing on Dec. 27 for Transverse Insurance Group LLC's pending acquisition of Delaware-domiciled runoff insurer Arrowood Surplus Lines Insurance Co. from Arrowood Indemnity Co.

The deal was agreed upon May 9. Before the transaction closes, Arrowood Indemnity will assume Arrowood Surplus Lines' gross loss and loss adjustment expense reserves under a 100% quota share.