Ecclesiastical absorbs partner insurer
Ansvar, the specialty insurer bought by Ecclesiastical Insurance in 1998, is to be absorbed into the larger group.
A spokesman for Ecclesiastical insisted the Ansvar brand would survive and that the move was to improve Ansvar’s credit rating and to make credit requirements more manageable.
A statement from Ecclesiastical read: “To position the company strongly for the future, Ecclesiastical is announcing a planned change to the legal structure. Ecclesiastical is proposing to change Ansvar’s legal status to a business division of Ecclesiastical."
The insurer said the change would increase Ansvar’s credit
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