Group1001 to Expand Clear Spring Brand Through Lackawanna Acquisition

Insurance holding company Group1001 is acquiring 100% of Lackawanna Casualty Co. and its wholly owned subsidiaries, Lackawanna American Insurance Co. and Lackawanna National Insurance Co., together known as Lackawanna Insurance Group. Lackawanna is the seventh-largest writer of workers' compensation in Pennsylvania. Group1001 plans to expand its Clear Spring Insurance brand of companies through the purchase of Lackawanna and addition of its employees and technology. Lackawanna Insurance Group has grown from a company with written premium of about $8 million in the late 1990s, to $120 mil...