Baton Rouge-based Louisiana Workers’ Compensation Corp. announced Wednesday it is acquiring Prescient National Insurance Co.
Terms of the deal were not disclosed.
Charlotte, North Carolina-based Prescient National, an A.M. Best “A” rated national workers compensation insurance company, will retain its business name and rating, the ratings agency said.
In the first nine months of this year, Prescient reported $18 million in net premium earned, compared with $19.9 million in the same period a year earlier, and net income of $5.1 million, compared with $5.3 million, according to A.M. Best.
Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.