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Coverys finalizes Global Insurance Management deal

Coverys has finalized the acquisition of Global Insurance Management Co. Inc.

The transaction will boost Global Insurance's ability to offer products and services to hospital and physician policyholders. Global Insurance and its insurance unit, Healthcare Underwriters Group Inc., offer medical professional liability insurance for physicians and other healthcare providers in Florida, Ohio, Kentucky, Texas, Indiana and Nevada.

Medical Professional Mutual Insurance Co., ProMutual Group Inc. and their subsidiaries do business as Coverys.

Sherman & Co. LLC served as financial adviser and Skadden Arps Slate Meagher & Flom LLP served as legal adviser to Coverys. Sandler O'Neill & Partners LP acted as exclusive financial adviser and Thompson Hine LLP served as legal adviser to Global Insurance.