Cincinnatti — American Financial Group Inc., which sells property/casualty insurance, agreed to purchase Strategic Comp Holdings LLC for an undisclosed sum.

SCH provides workers' compensation programs for medium and large commercial accounts.

Strategic Comp is expected to produce about $30 million of workers' compensation premiums in 2007, which, the company says, will result in a net increase in premiums to AFG and its wholly owned subsidiary Great American Insurance Co. of about $15 million.

Source: FinancialWire

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