Ohio Auto Insurance Buys Beacon

Ohio State Automobile Mutual Insurance is pleased to announce that they have acquired Beacon Insurance Group of Wichita Falls, Texas. The auto insurance company is continuously looking for ways to expand, and with the addition of Beacon to their holdings, Texas just became the 29th state of operation for the company.

Bob Restrepo, State Auto’s Chairman, CEO and President, says that the addition of it to the company gives them more opportunities for growth that they would not have had without the company. He said that they have been meeting over the past few months to see if they were compatible or not, and both companies have found that they were.

Restrepo says that they share similar cultures, as well as the way they do business and the people they do business with. He believes that the transition from two companies to one will be seamless. With Beacon writing about $50 million in debt each year, not only is it a good match – it is a profitable one

Beacon’s offices in Texas will become the Southwestern Regional office for State Auto, and will be headed by the former president of Beacon. With State Auto Insurance bringing in personal and commercial insurance products, and Beacon bringing in auto insurance products, the company is bound to succeed.

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