LWCC, based in Louisiana, is the largest workers’ compensation insurance carrier in the state, and it has announced its plan to acquire 100% of Prescient National.
Prescient National, located in North Carolina, is an AM Best “A” rated workers’ compensation insurance company known for its high performance.
LWCC’s president and CEO, Kristin W. Wall, highlighted that the acquisition aligns with LWCC’s conservative investment strategy and is expected to bring benefits to both current and future policyholders, although the financial details of the acquisition were not disclosed.
LWCC specialises in providing comprehensive workers’ compensation insurance and services to Louisiana businesses, helping to promote workplace safety and ensuring timely and adequate compensation for workplace injuries and illnesses. Prescient National, on the other hand, has a track record of outstanding performance in the national workers’ compensation insurance market, contributing robustly to their sectors with a forward-looking approach.
The acquisition is set to combine the strengths of two leading entities in the workers’ compensation insurance sector. This move not only diversifies LWCC’s investment portfolio but also allows both companies to leverage each other’s strengths for mutual benefits.
Prescient National will continue its operations as a separate entity based in Charlotte, North Carolina, maintaining its approach and operational strategies.
LWCC’s Kristin W. Wall said, “Prescient National has a demonstrated track record of outstanding performance that positions it as an attractive complement to LWCC’s conservative investment strategy. We believe the acquisition will benefit our current and future policyholders.” Prescient National’s CEO, Bruce Flachs, commented, “We are excited to enter into this long-term partnership with a company that deeply understands our business. The entrepreneurial, forward-looking approach our team has taken to build this company will be enhanced with LWCC’s support.”
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