NORCAL Mutual Insurance Company has completed the acquisition of PPM Services, the holding company for Preferred Physicians Medical Risk Retention Group (PPM).
As part of the transaction, PPM Services, located in Overland Park, Kansas, will partner with NORCAL, expanding its presence in the Midwest.
PPM Services has now become a wholly owned subsidiary of NORCAL Mutual, and PPM has converted from a stock company to a mutual company.
Steven Sanford, president and CEO of PPM, said: "The opportunity to join such a well-respected company as NORCAL and begin to leverage their resources for the benefit of our policyholders represents an exciting new chapter in our specialty focused company.”
Scott Diener, president and CEO of NORCAL, added: “This is a great partnership for both companies and an opportunity for NORCAL to continue our national expansion and establish a strong Midwest presence.”
