$30 million Deal Value
has completed a combined $30,000,000 senior debt and reinsurance transaction with
Financial advisor to Ullico
Ullico has completed a combined $30mm senior debt transaction with Patriot
December 31, 2008 (New York, NY) – Freeman & Co. LLC, a leading independent advisor to the financial services industry, announced today that it advised ULLICO Inc., a multi-line insurance carrier headquartered in Washington D.C., on a combined $30 million senior debt and reinsurance transaction with Patriot Risk Management, Inc., a provider of P&C insurance products and services headquartered in Fort Lauderdale, FL.
“We are excited to complete this transaction and begin a partnership with Patriot Risk Management,” said Mark Singleton, CEO of Ullico Inc., “the transaction opens the door to a broader strategic relationship, and we hope to work closely with Patriot in the future.”
“The transaction was a win-win for both companies as Ullico benefited from increased scale in its P&C operations and Patriot continued on its current path of profitable growth in workers compensation premiums while strengthening its balance sheet in 2009” said Eric Solash, Director and Head of Freeman & Co.’s insurance practice area.
The transaction highlights Freeman & Co.’s expanded advisory capabilities in the insurance, reinsurance and capital markets spaces.