Two and a half years ago, Jerger and his two brothers sold their Pinellas Park insurance agency, which specialized in mobile home insurance, and retired early. One brother bought a ranch outside Tallahassee; another bought a motor home and travels the states. Jerger, who's taken up skiing in early retirement, said he might go back into some kind of business, but out of boredom, not need.From Infotrac
Philadelphia Business Journal, August 27, 1999 v18 i29 p5(1) Insurer dropping out of health care market. (Philadelphia Consolidated Holding Corp.)(Statistical Data Included) Peg Brickley.Full Text: COPYRIGHT 1999 American City Business Journals, Inc.
The move will save it money while it pursues other niches
Philadelphia Consolidated Holding Corp. is scaling back its nursing home and assisted living facility insurance business, but pressing onward with plans to grow its dozens of other specialty insurance niches. [snip]
"Our focus is on underwriting profit. We have 50 different niches, including all the new ones from Jerger," the insurance executive said.
n mid-July, Philadelphia Consolidated paid $45 million in a cash and stock deal for The Jerger Company Inc. and its subsidiaries. If the acquired business highly specialized mobile home and homeowners property and casualty lines - goes well, another $5 million could he paid out to Jerger's former owners.
"The key thing with Jerger is that they are personal lines," Sweeney said. "We are getting personal lines expertise to add to our commercial lines."