In April, Tokio Marine America (TMA) and Trans Pacific Insurance Company (TPIC), subsidiaries of Tokio Marine Holdings, Inc., announced that they are withdrawing from the California personal lines insurance market.

On May 9, Mercury Insurance issued a press release which advises that it has developed a plan to transition TMA and TPIC customers to Mercury. 

The release notes that the plan has been reviewed by the California Department of Insurance. The release states that the plan involves “a cohesive group of independent agents who could facilitate the transfer of their policies to Mercury for those customers who were interested, ensuring continuing coverage.”

According to the release, the transition is “more than just a new business opportunity.” 

Gabriel Tirador, chief executive and director of Mercury, said in the release, “We believe very strongly in California’s future. The steps Commissioner Lara and the Department of Insurance are taking to modernize the insurance market through the Commissioner’s ‘Sustainable Insurance Strategy’ will help stabilize the market and create a transparent, sustainable model that will benefit California consumers.”

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