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A spokesperson for Kentucky National Insurance Co. announced the insurer has been purchased by Lexington, Kentucky-based First Kentucky Insurance LLC. Kentucky National Insurance was formerly owned by American European Group Inc., a New York-based insurance holding company. No terms of the transaction were provided.
Published on August 9, 2007
American European Group decided in 2004 to focus on the core business it had established in the northeast; as a result, Kentucky National Insurance stopped issuing and renewing policies, restricting its efforts to servicing and paying claims under existing policies.
A company spokesperson said Kentucky National Insurance, whose base of operations will be in Lexington, will offer auto, homeowners, boat and mobile home coverage and various types of commercial insurance.
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