United receives green light for Interboro acquisition

New York's insurance regulator has given United Insurance
approval for its proposed acquisition of Long Island-based carrier
Interboro.
United announced yesterday (21 April) that the New York State
Department of Financial Services (NYDFS) had approved the $57mn
deal.
The transaction is now expected to close by the end of next
month.
The Insurance Insider revealed last
year that the East Coast-focused US personal lines insurer had been
placed up for sale as its backers looked to exit their stakes