Specialty Insurer Buys Managing General Agency

Cincinnati-based The Midland Company says its subsidiary, American Modern Insurance Group, has acquired the operating assets of Georgia-based Manufactured Housing Insurance Agency (MHIA). MHIA, a managing general agency located in Atlanta, specializes in providing insurance products and services to the manufactured housing industry. Terms of the purchase were not disclosed.

``The addition of MHIA solidifies AMIG's product and service offering to our manufactured housing dealer customers in Georgia,'' said John Hayden, president and chief executive officer of The Midland Company. The assets of MHIA will become part of Modern Services Group Inc., AMIG's fee-based subsidiary.

The owner and founder of MHIA, Joseph McCann, has extensive experience in the manufactured housing industry and will help in the transition of operations, The Midland Company says.

``Joining the AMIG family affords MHIA the opportunity to combine its established marketing strategies with a nationally recognized provider of superior insurance products and services,'' McCann said.

``AMIG has deep roots in the manufactured housing industry, deriving nearly 70 percent of its premium volume from the sale of manufactured housing insurance,'' Hayden said. ``This purchase leverages our expertise, diversifies the services we can deliver to customers and provides resources to help our business partners grow their manufactured housing business. It also illustrates our continued commitment to building sources of fee income and our intent to expand in specialty markets through acquisitions or strategic partnerships.''