Auto Club Insurance Association (ACIA) agreed to acquire MEEMIC Insurance Co. and its insurance agency affiliate, MEEMIC Insurance Services Corp., provider of auto, homeowners, boat and umbrella insurance to employees of educational institutions and their families.
ACIA is the second-largest provider of auto insurance in Michigan, based on net premiums written, according to the insurer. It offers a full range of personal lines insurance products and services through a network of 725 captive agents and more than 1,000 independent agents located throughout the Midwest. ACIA is an affiliate of AAA Auto Club Group, which provides membership, travel and financial services to over 4.1 million AAA members in eight states, including Illinois, Indiana, Iowa, Michigan, Minnesota, Nebraska, North Dakota and Wisconsin.
Formerly known as Michigan Educational Employees Mutual Insurance Co., MEEMIC is owned by GMAC Financial Services and its affiliates.
Following the closing, which is expected to be early second quarter of 2009, MEEMIC will operate as a wholly owned subsidiary of ACIA. It will be managed separately from ACIA's existing insurance operations and continue to operate under the MEEMIC name.
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