Acquisition Brings Together Insurance Providers

Atlanta-based Sterling National Corp. has acquired Everett, Wash.-headquartered Seattle Specialty Insurance Services Inc. Terms of the purchase were not disclosed.

Seattle Specialty Insurance Services has provided insurance services to financial institutions since 1992. The company will operate as a wholly owned subsidiary of Sterling National, under the continued leadership of founder, President and CEO Rick Pedack.

"Rick and his management team have built a strong platform to provide middle-market financial institutions with critical insurance outsourcing and risk mitigation support,’ Bill Korchalis, Sterling National's CEO, said in a statement.

Sterling National, which changed its name from ZC Sterling Corp. earlier this year, is a subsidiary of Australia-based QBE.

SOURCE: Sterling National Corp.

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