Deal Overview

Buyer Patriot Risk Management, Inc.
Actual Acquirer Guarantee Insurance Group, Inc.
Target Argonaut-Southwest Insurance Company
Deal Type Insurance Company
Insurance Sector Property & Casualty
Agreement Date 12/13/2009
Announcement Date 11/09/2009
Announced Deal Value ($M) 16.70
Announced Deal Value as Reported ($M) 16.70
Status Pending
Announced Deal Value Per Share ($) NA

Consideration Breakout

Cash ($M) 16.7

Deal Pricing Ratios

  Announcement Completion
Price / Earnings (x) 29.60 NA
Price / Book (%) NA NA
Price / Statutory Net Income (x) NA NA
Price / Capital & Surplus (%) NA NA
Price / Operating Income (x) 107.9 NA
Price / Operating Income (x) 107.9 NA
Price / Net Premiums Written (x) NM NA

Deal Terms

Patriot Risk Management Inc. has agreed to pay $1.2 million in cash plus an amount equal to the statutory surplus of Argonaut-Southwest Insurance Co. as of September 30, 2009. Argonaut-Southwest’s statutory surplus was approximately $15.5 million on that date. Buyer’s statutory financials are for Guarantee Insurance Co.

Percent Acquired (%) 100.00
Accounting Method Acquisition
Merger of Equals No
Estimated Cost Savings (%) NA
Estimated Cost Savings ($000) NA
Est. Restructuring Charges ($000) NA

International underwriter of specialty insurance and reinsurance products in areas of the property and casualty market.

Default Title

Default Copy