Does Praetorian Insurance Still Sell Insurance?
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Asked November 13, 2012
Praetorian Insurance, which was originally founded in 1979, is no longer a primary underwriter for insurance policies of any type. The company was bought in by State Mutual Insurance Company, based in Rome, Georgia. State Mutual continues to sell insurance products, but the Praetorian Insurance name is no longer in use. The Praetorian company is still in business under the name Praetorian Financial, but they no longer sell insurance.
Praetorian Insurance was founded as a reinsurer, focused on business and commercial insurance products. The company was still in business in 2010, but the insurance side of the company was purchased shortly afterward and completely absorbed into the new parent company. Praetorian Financial, the remaining portion of Praetorian Insurance, operates as a financial and investment advisor and has recently been purchased by the Hanover Re group of insurers.
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Products the Company Sold
Praetorian Insurance specialized in business insurance, reinsurance, and other types of commercial insurance products. The company which purchased Praetorian Insurance offers a full range of products, including life insurance, auto coverage, and business insurance.
What Happened to the Company?
Praetorian Insurance was one of many victims of the financial meltdown of 2008. Even though the company survived the initial crash, their financial standing was badly damaged and the company was eventually bought out by State Mutual Insurance. This sale allowed the rest of the company, now known as Praetorian Financial, to focus on financial management and Forex trading, the niche they still fill today, even though that branch of the company has since been purchased by Hanover Re.
Answered November 13, 2012 by Anonymous