Frontier Picks Bank to Help Sell Certain Operations

By Dave Willis

Rock Hill, NY-based Frontier Insurance Group says it has engaged Banc of America Securities to seek buyers for its Western Indemnity Insurance Company subsidiary and its Surety operations.

Western Indemnity is a niche company that offers a portfolio of specialty liability insurance products for healthcare professionals and groups through the broker market. Products include those for ambulatory care, emergency room contractors, physicians' excess, physician groups, workers comp and more. It is admitted in six states and operates as a surplus lines carrier in 39 states and the District of Columbia

Frontier says Banc of America Securities has prepared offering memorandums on both operations and is actively marketing the properties.

Harry Rhulen, Frontier's CEO and president, said, ``We have been working with Banc of America closely for several months on capital raising alternatives, and look forward to their assistance in marketing these operations.''

Frontier is an insurance holding company, which through its subsidiaries, is a national underwriter and creator of specialty insurance products serving the needs of insureds in niche markets.