Greyhawk Insurance Co. is buying Coventry Insurance Co.

The transaction is expected to close before Dec. 31, Coventry said in a quarterly statement for the period ending June 30.

Coventry's assets are concentrated in cash or in "highly negotiable equity type instruments" and it has not issued any insurance policies, according to management discussion contained in a statutory filing. It is owned by Warwick Reinsurance Intermediaries Inc., which is, in turn, owned by Orlando Management Corp.