United barred from MGA investments by AmCo deal

United Insurance Holdings (UIHC) will be prohibited from
investing or acquiring managing general agencies (MGAs) for the
next five years after signing a restrictive covenant as part of its
deal to purchase American Coastal.
The covenant will become effective once the deal closes, which
is anticipated to be in early 2017, and will expire on 1 June
2022.
The condition was disclosed as part of United's proxy filing
that gave shareholders details of the proposed deal.
The filing revealed that...