The Republic Group

The Republic Group

Location: Dallas, TX
Phone: (972) 788-6001
Website: www.republicgroup.com
Status: Exited in 2006
The Republic Group The Republic Group The Republic Group

The Republic Group provides personal and commercial property and casualty insurance products to individuals and small to medium-size businesses primarily in Texas, Louisiana, Oklahoma and New Mexico. Republic has written insurance in the Texas market since its inception in 1903. The Company distributes its products through a network of independent agents and a select group of managing general agents, with a target on the rural and small to medium-sized metropolitan markets.

Background to the Transaction

Republic traces its origins to 1903, with the formation of the Commonwealth Fired Insurance Company in Dallas, Texas. Over the years, the Company was rebranded Republic. In 1982, Republic was acquired by Winterthur Swiss Insurance Company, a subsidiary of the Credit Suisse Group (“Winterthur”). Over time, Winterthur acquired four other groups of the U.S. insurance companies with overlapping geographic regions of operations. Ultimately, Winterthur reorganized its U.S. operation with Republic focusing on its core property and casualty operations in Texas and other states in the Southwest. In 2003, given a need to recapitalize its balance sheet, Winterthur began to evaluate the sale of Republic. Attracted by the opportunity to reinvigorate and transform this orphaned division of a large parent company, Brazos and several other institutional investors acquired Republic via a divisional carve out transaction in August of 2003.