ProAssurance’s workers’ compensation subsidiary, Eastern Alliance Insurance Group, completed its transaction of Great Falls Insurance Company September 18. In June, ProAssurance announced it was purchasing the renewal rights to Great Falls’ book of workers’ compensation in Maine and New Hampshire. The purchase allows for expansion into the New England states.
Great Falls is a Maine-based company with approximately $13.3 million in direct premium as of 2016. With the completion of the transaction, Eastern is assuming Great Falls’ contracts with agency partners and employees led by President Gary Hall. He will lead the New England region for Eastern.
The new Eastern location in Maine will be its fifth operating location.