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Hiscox acquires cattle insurance Company

American Live Stock Insurance Company and its parent holding company ALTOHA have been acquired by Bermuda-based Hiscox, an international specialist insurer, for $55m. American Live Stock provides animal mortality insurance for cattle and horses and holds licenses in all 50 US states. It reported a gross written premium income of $16.9m in 2006. "The acquisition of ALTOHA is an excellent fit on all fronts," said Hiscox chief executive Bronek Masojada. "It gives us a carrier admitted in 50 states through which we can expand our existing US operations and product offerings."

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