Medical Protective Company (MedPro), a Berkshire Hathaway subsidiary, agreed in terms to purchase 100-percent ownership of Princeton Insurance Company, a Northeast professional liability insurer for health care providers, from Medical Liability Mutual Insurance Company (MLMIC) in an all-cash transaction.
Princeton Insurance employs more than 100 people, serves more than 13,000 health care providers and sees annualized gross written premiums of approximately $140. At the end of Q2, its surplus stood at approximately $400 million.
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