(Image source: Bee Well Honey Farm.)
Pie Insurance (Washington, D.C.), an InsurTech specializing in workers’ compensation insurance for small businesses, has announced that Pie Carrier Holdings has received regulatory approval from the Illinois Department of Insurance to acquire Western Select Insurance Company, a property casualty insurance company that is licensed in Illinois, California, and New York, from a subsidiary of Premia Holdings Ltd. (Pembroke, Bermuda). The proposed acquisition represents a step by Pie Carrier Holdings, a subsidiary of Pie, formed in May 2020, to execute on Pie’s strategy of becoming a full-stack insurance carrier.
At closing of the proposed acquisition, Western Select Insurance Company will be renamed Pie Casualty Insurance Company.
“Since Pie was founded in 2017, our goal has been to offer the entire small business insurance experience to our customers as a full stack insurance carrier,” comments John Swigart, co-founder and CEO, Pie. “Receiving regulatory approval to acquire Western Select Insurance Company is a key milestone on the path for Pie to write our own policies, and to bring our seamless commercial insurance experience to even more small businesses across the country.”