Plymouth Rock Assurance finalized its purchase of Rider Insurance Co., which provides insurance coverage exclusively for powersports vehicles, the companies announced this week.
Based in Springfield, N.J., Rider Insurance sells insurance for motorcycles, ATVs and UTVs. Plymouth Rock Assurance writes and manages $1.4 billion in auto, motorcycle, and home insurance premiums across Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Pennsylvania.
Plymouth Rock announced in July that it would acquire Rider to gain a stronger foothold into the powersports industry and to market its auto and home insurance products to Rider customers.
“We look forward to focusing on the motorcycle insurance segment of the business and expanding our current product offerings,” said Gerry Wilson, president and chief executive of Plymouth Rock Management Company of New Jersey. “Plymouth Rock and Rider share a common history built on trust and reliability, and we’re excited to welcome a new group of customers and riding enthusiasts to Plymouth Rock.”
Financial terms of the acquisition were undisclosed.
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