An Investor group led by the Builders and Contractors Associations of Mississippi Self-Insurers Trust has purchased Ridgeland-based AmFed Companies from Companion Property & Casualty Insurance Co. of Columbia, S.C. This purchase includes two Mississippi insurance companies.
BCAM Board Chairman Donnie Massey indicated that AmFed has served as the Third Party Administrator to BCAM for the past 17 years making this transaction virtually invisible to its producing agents and customers.
“This purchase allows BCAM to expand the scope of insurance products and services it has distributed through selected independent agents for the past 23 years,” said Massey. “It will be led operationally by investor group members Billy Roberts and Greg McLemore.”
Rob Rhodes, Chief Legal Officer of Companion, added, “The AmFed group is a perfect strategic fit for BCAM and we look forward to working with them through this transition.
The Builders and Contractors Associations of Mississippi was founded in 1991 and is the largest workers’ compensation insurance Fund of its type in Mississippi. It is located at 811 E. River Place, Suite 201, in Jackson.
Headquartered in Columbia, S.C., Companion Property & Casualty Insurance Group does business in 49 states through a network of independent agents, brokers and business partners.
AmFed National and AmFed Casualty Companies provide insurance solutions. Amfed Companies is located at 576 Highland Colony Parkway, Suite 300, in Ridgeland.