MSAG Purchases Great Lakes Casualty

The Main Street America Group has completed its acquisition of Great Lakes Casualty Insurance Company, a Michigan-domiciled private passenger auto insurance carrier, from Newco Financial Holdings Inc.

All Great Lakes personnel have become employees of Main Street America, a super regional property-casualty insurance carrier based in Jacksonville, Fla. This includes Great Lakes president Keith Fry, who will continue to operate the company out of its Grand Rapids, Mich., office. Great Lakes will also maintain its brand name.

“With its strong brand and statewide network of more than 100 independent agents, there are great opportunities to profitably grow our business throughout Michigan,” said Main Street America chairman, president and CEO Tom Van Berkel. “Initially, we will offer our personal auto and surety and fidelity bonds products, followed by the rollout of our homeowners’ and commercial products in 2009.”

Great Lakes generated approximately $9.5 million in premium in 2007. The company has approximately 6,300 policyholders throughout Michigan.