Everest Re Group Acquires Texas, Alabama Agencies

Everest National Insurance Co., a subsidiary of Everest Reinsurance Holdings Inc., says that Everest Re Group has acquired the business of WorkCare Inc. and WorkCare Southeast Inc., effective July 1, 1998.

WorkCare, a Texas agency based in Houston, and WorkCare Southeast, an Alabama agency located in Birmingham, both specialize in worker's compensation programs written primarily by the Everest Re Group. The employees and assets of WorkCare and WorkCare Southeast will be transferred to new agencies, which the group will form in Texas and Alabama.

The company says these acquisitions reflect Everest National's interest in acquiring or investing in select agencies with a demonstrated ability to produce books of business consistent with Everest National's financial objectives.