CHICAGO–(BUSINESS WIRE)–March 1, 2000–Unitrin, Inc. (NASDAQ: UNIT) announced today that it has completed the sale of its subsidiary, Mountain Valley Indemnity Company (formerly known as White Mountains Insurance Company), to Motor Club of America (NASDAQ: MOTR) for $7.5 million in cash. Mountain Valley, based in Manchester, New Hampshire, sells mainly commercial property and casualty insurance in the New England states.
Motor Club, based in Paramus, New Jersey, is a provider of property and casualty insurance in the Northeast.
Unitrin’s subsidiaries are engaged in property and casualty insurance, life and health insurance and consumer finance.
CONTACT: Unitrin, Inc.
Scott Renwick, 312/661-4930
KEYWORD: ILLINOIS NEW JERSEY
INDUSTRY KEYWORD: INSURANCE MERGERS/ACQ