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Alteris Announces Acquisition Of Seattle-Based Mattei Insurance Services

Stocks in this article: AGII

Alteris Insurance Services, Inc., a wholly-owned subsidiary of Argo Group International Holdings, Ltd. (NasdaqGS: AGII), announced today it has acquired the operating assets and business rights of specialty program manager Mattei Insurance Services, Inc.

Based in Seattle, WA, Mattei offers a wide range of products and services, primarily through eight programs: Alaska Commercial, Automobile Service and Repair, Fence Contractors, Forest Products, Landscapers Insurance, Moving and Storage, Telecommunication Towers, and Waste and Recycling.

“This acquisition is a perfect fit for our company and it’s significant for many reasons,” said Hilbert “Van” Schenck II, president of Alteris. “Mattei offers complementary, if not similar products and services in many of the same classes of business we target through our own programs. This presents an ideal opportunity to extend our geographic footprint on the west coast, building upon our expertise in similar programs on the east coast. In addition, we gain new programs and more underwriting experience, and we’re able to establish new carrier relationships.”

Coverages include a broad array of property and casualty insurance for admitted and non-admitted markets: animal mortality, bonds EPLI; excess/surplus lines, farm comprehensive, monoline umbrella, personal liability; professional liability; railroad protective policies; pasture/feedlot standard P&C placement; and workers compensation. Insurance coverages will be underwritten through Mattei’s existing carrier markets and distribution partners, as well as by Alteris Insurance Services.

ABOUT ALTERIS

Alteris Inc and Alteris Insurance Services, Inc., members of Argo Group International Holdings, Ltd. (NasdaqGS: AGII), provide services-oriented, complete solutions, operating through three business divisions: Strategic Markets, Alternative Risk, and Commercial Subsets. Alteris offers managing general agencies and insureds access to a broad array of exclusive risk solutions for specialty programs and alternative risks including program placement, risk bearing solutions, capital support, strategic alliances, policy systems solutions, claims services, and reinsurance solutions. Information on Alteris is available at www.alterisus.com.

ABOUT MATTEI PROGRAMS

Mattei Programs, previously offered through Mattei Insurance Services, Inc. as managing general agent and now offered through Alteris Insurance Services, Inc., provide a full range of insurance products to selected markets in the northwestern U.S., with an emphasis on agricultural risks. Mattei Programs provide coverage and as well as underwriting, management, claims and loss control services in the following industries and business segments: Alaska Commercial, Forest Products, Landscapers, Moving & Storage, Waste & Recycling, Fence Contractors, Telecommunication Tower Owners, Automobile Service & Repair and Brokerage Services.

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