According to the Insurance Journal, Mercury General has added insurance firm Auto Insurance Specialists to its portfolio. This gives Mercury a large presence in the California auto insurance market through the Auto Insurance Specialists, Aon Recreation Insurance, and PoliSeek brand names. In 2007, AIS wrote about $400 million worth of direct premiums.
The deal was brokered by Aon Corp. Mercury paid $120 million in cash immediately, with the possibility of an additional $34.7 million over the next two years. This deal will further expand the reach of Mercury's auto insurance subsidiaries.
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