North American Buys Deep South MGA

North American Insurance Leaders announced Friday that it has signed an agreement to acquire the businesses of Deep South Holding, L.P., one of the largest managing general insurance agencies in the United States. Founded in 1967, Deep South is a full-service distributor of commercial insurance products. Deep South markets its products through more than 2,000 independent agents located in 24 states. In 2006, Deep South had $224 million of gross premiums and net revenues of $52.9 million, the majority of which represented commissions and fees for commercial auto insurance policies. For th...