CopperPoint Expansion Underway With PacificComp Acquisition

CopperPoint Mutual Insurance Co. is buying workers’ comp carrier PacificComp for $150 million in cash, in a major step toward the former Arizona state fund’s goals for expansion. PacificComp, formerly known as Pacific Compensation Insurance Co., is being purchased from Alleghany Insurance Holdings LLC, a subsidiary of Alleghany Corp. PacificComp, headquartered in Westlake Village, California, writes workers’ compensation coverage primarily in the Golden State. The sale is expected to close by the end of the year. It’s the first of what could be a series of ac...