AUBURN HILLS, Mich., Aug. 09, 2023 (GLOBE NEWSWIRE) — Tokio Marine HCC – Public Risk Group, a member of the Tokio Marine HCC group of companies based in Houston, Texas, and a leading provider of insurance solutions for public entities, today announced it has entered into an agreement to acquire the renewal rights to the FirstFire™ portfolio of Intact Insurance Group USA LLC (Intact).
FirstFire policies protect volunteer and professional fire departments, emergency responders and municipalities through property and casualty insurance and risk management solutions.
“The FirstFire product is a strong, strategic fit for us,” said Christopher Skarinka, President of Tokio Marine HCC – Public Risk Group. “This transaction will enable us to proudly expand our protection of those who serve the American public, which is core to our mission of serving communities.”
As part of the acquisition, long-time Intact employees who service FirstFire policies have become full-time Tokio Marine HCC – Public Risk Group employees. To provide a seamless experience for FirstFire policyholders in the near-term, Intact will continue to issue FirstFire policies, but Tokio Marine HCC will reinsure and service these policies until it begins issuing FirstFire policies itself later this year.
About Tokio Marine HCC – Public Risk Group
Tokio Marine HCC – Public Risk Group is a leading provider of comprehensive and cost-effective insurance programs exclusively to public entities. Since 1985, it has used its understanding of the unique challenges facing the public sector to protect those charged with delivering mission-critical and life-saving public services. Headquartered in Auburn Hills, Michigan, it serves towns, townships, villages, cities, counties and special districts of all types, including volunteer firefighting entities. For more information about Tokio Marine HCC – Public Risk Group, please visit tmhcc.com/publicrisk.
About Tokio Marine HCC
Tokio Marine HCC is a member of the Tokio Marine Group, a premier global company founded in 1879 with a market capitalization of $46 billion as of June 30, 2023. Headquartered in Houston, Texas, Tokio Marine HCC is a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and Continental Europe. Tokio Marine HCC’s major domestic insurance companies have financial strength ratings of ‘A+’ (Strong) from S&P Global Ratings, ‘A++’ (Superior) from A.M. Best, and ‘AA-’ (Very Strong) from Fitch Ratings; its major international insurance companies have financial strength ratings of ‘A+’ (Strong) from S&P Global Ratings. Tokio Marine HCC is the marketing name used to describe the affiliated companies under the common ownership of HCC Insurance Holdings, Inc., a Delaware-incorporated insurance holding company. For more information about Tokio Marine HCC, please visit www.tokiomarinehcc.com.
| Contact: | Beth Lenz, Communications Specialist |
| Tokio Marine HCC – Public Risk Group | |
| blenz@tmhcc.com |
