Delphi Financial Group, Parent Company of Safety National Casualty Corporation, Acquired by Tokio Marine Holdings
May 16 2012 - 8:03AM
Business Wire
Delphi Financial Group announced the closing of its acquisition
with Tokio Marine Holdings, Inc. today. Safety National Casualty
Corporation, formerly a wholly-owned subsidiary of Delphi Financial
Group, is now a member of the Tokio Marine Holdings Group as a
result of this transaction.
“We are extremely pleased to be joining forces with one of the
world’s elite insurance companies,” said Mark Wilhelm, CEO of
Safety National. “Tokio Marine’s A++ Best rating and financial
size, with approximately $200 billion in assets, will offer Safety
National unquestioned financial security for the future. Tokio
Marine’s previous high-profile acquisitions of Philadelphia
Insurance Companies and Kiln Group Limited demonstrate their desire
to build a top-tier global group of insurance companies. We are
proud to be among this group and look forward to the benefits that
this merger will provide to our brokers and policyholders.”
Safety National’s executive management team will remain intact
and the merger closing will have no affect on Safety National’s
day-to-day operations.
“We are fully committed to this new relationship with Tokio
Marine Holdings,” states Jerry Scott, president of Safety National.
“This transaction offers new synergies and opportunities for our
corporation without hindering our ability to continue on as the
market leader in excess workers’ compensation. It’s a positive
development for all parties.”
Safety National and Tokio Marine Holdings will now begin
analyzing their respective markets in an effort to identify new and
unique products to add to their offerings.
Safety National is a versatile alternative market insurance
provider that offers a broad range of risk funding products through
insurance agents and brokers. Founded in 1942, Safety National is
the leading provider of excess workers’ compensation coverage to
self-insured employers and groups nationwide, and has provided that
type of coverage longer than any other company in the United
States. The company is licensed to provide workers’ compensation
insurance in all 50 states, the District of Columbia and Canada.
Safety National is a member of the Tokio Marine Group and is rated
“A” (Excellent), Financial Size Category XI, by A.M. Best. To learn
more, visit: www.safetynational.com.
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