*Direct Insurance Agencies In Merger Agreement

Share this content:
Direct Response Corp., White Plains, NY, which owns several automobile insurance direct marketing firms, yesterday said it agreed to acquire Connecticut Life & Casualty Co., Meriden, CT, a direct marketer of auto and homeowners insurance. The terms of the acquisition were not disclosed.


DRC, parent of Response Insurance, said it would seek to market Connecticut Life & Casualty in the states where DRC offers insurance, including California, New York, Florida, Illinois, Maryland and Georgia. CL&C will continue to operate under its current name, and Robert Weiss, chairman/CEO, will remain in that capacity.


CL&C, which has more than $13 million in in-force policies, said its growth had been limited by its lack of resources and capital. DRC said it recently received a $97 million investment from Morgan Stanley Dean Witter. It also said it is seeking to expand its direct marketing model nationally.


Both parties signed a letter of intent. The acquisition is subject to approval by the Connecticut Insurance Department and the completion of due diligence.
close

Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above