DALLAS, TX, January 02, 2017 /24-7PressRelease/
-- McCusker Holdings Corp today announced that it has entered a definitive agreement, to acquire Evergreen Underwriting Group Inc. a Wyoming based private company, following the completion of the conversion of Evergreen Underwriting Group stock and the transaction is now closed.
Chairman and Chief Executive Officer Willard McCusker stated: "We are excited about the addition of Evergreen to our growing list of subsidiaries. The Evergreen acquisition provides us with talent, underwriting programs, and opportunity as we plan converting Evergreen over in first quarter to our own private captive insurance company. We believe this move will enhance all our companies, and we expect to realize substantial benefits from transitioning to our now private underwriting solution to save taxes and other fees and maintain control over our premiums which were at risk of underwriting mismanagement in the past. We also believe our comprehensive reinsurance structure, and our shared services platform will continue to enhance our other books of business.
This transaction is going to be key to our success, but we see this area as offering substantial opportunities to profitably grow our business in the future. We look forward to working with the Evergreen team and providing them with the broad resources and capabilities that McCusker Holding Corp must offer. We expect the transaction will be immediately accretive to earnings."
About Evergreen Underwriting Group Inc.
Evergreen Underwriting Group Inc., provides risk management and warranty coverage for its companies in the United States. The company serves its companies in manufacturing, warehousing, leisure, property ownership, and technology sectors. It offers its products only to its authorized companies.
Evergreen Underwriting Group Inc., was formed to provide the necessary levels of coverage to its owners and their programs. The company is now based in Cheyenne WY, United States. As of December 16, 2014, Evergreen now operates as the Risk Manager for its companies.
About McCusker Holding Corp
Colleyville, Texas-based McCusker Holding Corp is a leading firm offering custom product protection solutions for a wide variety of consumer and commercial industries via its subsidiaries. The company specializes in fulfilling the underwriting, licensing, and administration requirements for international warranty and service programs.
Their comprehensive solution includes data administration; customer service; repair and depot facilities along with national onsite service maintenance and installation. They serve the electronics industry; HVAC; LED lighting; precious metals and auto parts industries among many others.
For more information, please visit their website at www.mccuskerholding.com
or call 800-734-0819.
Forward Looking Statements
This news release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. Forward-looking statements can generally be identified by the use of forward-looking terminology, such as "may," "will," "plan," "expect," "project," "intend," "estimate," "anticipate" and "believe" or their variations or similar terminology. There can be no assurance that actual developments will be those anticipated by the Company. Actual results may differ materially from those expressed or implied in these statements as a result of significant risks and uncertainties, including, but not limited to, non-receipt of expected payments from insureds or reinsurers, changes in interest rates, a downgrade in the financial strength ratings of our insurance subsidiaries, the effect of the performance of financial markets on our investment portfolio, estimates of the fair value of life settlement contracts, development of claims and the effect on loss reserves, accuracy in projecting loss reserves, the cost and availability of reinsurance coverage, the effects of emerging claim and coverage issues, changes in the demand for our products, our degree of success in integrating acquired businesses, the effect of general economic conditions, state and federal legislation, regulations and regulatory investigations into industry practices, risks associated with conducting business outside the United States, developments relating to existing agreements, disruptions to our business relationships, breaches in data security or other disruptions involving our technology, heightened competition, changes in pricing environments, and changes in asset valuations. The forward-looking statements contained in this news release are made only as of the date of this release. The Company undertakes no obligation to publicly update any forward-looking statement except as may be required by law. Additional information about these risks and uncertainties, as well as others that may cause actual results to differ materially from those projected, is contained in the Company's filings with the Securities and Exchange Commission.