Alleghany sells workers' comp carrier

Alleghany Corporation has agreed the sale of Pacific
Compensation Insurance to CopperPoint Mutual for $150mn in
cash.
The seller said an Alleghany subsidiary will continue to provide
adverse development reinsurance cover on PacificComp claims made
before the transaction, which is expected to close at the end of
the year.
PacificComp primarily writes insurance in California.
CooperPoint Mutual said the purchase will take its combined
underwriting book to about $400 million in premium and the comb