Southport Lane, a private equity firm, through its subsidiary Lonestar Holdco LLC, has reached a definitive agreement with Dallas National Insurance Holdings to acquire 100 percent of Dallas National Insurance Co., a P&C casualty insurer. Terms of the deal were not disclosed.
While the transaction is subject to regulatory approval, it is anticipated to close early in the third quarter of this year, says Southport.
“We are committed to providing additional capital to strengthen Dallas National and provide further security to policyholders,” said Glenn Weber, CEO of Southport Re, Southport Lane’s reinsurance affiliate.
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