American Premier Underwriters is a property and casualty insurance company, headquartered in Cincinnati, Ohio. Prior to 1995 the company was known as the Penn Central Corporation. In addition to casualty insurance, the company is also in the business of fire and marine insurance.[1]
| Company type | Publicly traded |
|---|---|
| Industry | Insurance |
| Founded | 1846 |
| Headquarters | Cincinnati, Ohio |
| Products | Property insurance Casualty insurance |
History
editDuring the nineteenth century the company was the Pennsylvania Railroad. It was established on April 13, 1846.[2]
On March 25, 1994, the company changed its name from Penn Central Corporation to American Premier Underwriters Inc.[3]
In December 1994, the company, which was 40.4 percent owned by the American Financial Corporation, announced that it would be acquiring the parent company in a stock merger.[4][5] The combined company became known as American Financial Group.[6]
In 1995, as a publicly traded company, APU reportedly had 5,400 employees and sales of $1.8 billion.[4]
Amtrak lawsuit
editThe company sued Amtrak to force the passenger railroad company to redeem shares that Penn Central received at the time it transferred much of its passenger rail assets to Amtrak.[7] The case was dismissed in 2015.[8]
References
edit- ^ "American Premier Underwriters Inc". SEC Report. Retrieved 2021-08-21.
- ^ "American Premier Underwriters Inc". Bloomberg. Retrieved 2021-08-17.
- ^ "Penn Central Planning to Change its Name". The New York Times. March 2, 1994.
- ^ a b "American Premier Underwriters, Inc". International Directory of Company Histories, Vol. 10. St. James Press, 1995, reproduced by Funding Universe. Retrieved 2009-01-25.
- ^ "Insurance Unit to Buy its Parent in Stock Merger". The New York Times. Reuters. December 13, 1994. Retrieved 2021-11-28.
- ^ "Great American Story". Great American Insurance Company. Retrieved 2024-02-12.
- ^ "Judge sends AFG's Amtrak claims to arbitrator". Cincinnati Business Courier. December 5, 2008. Retrieved 2009-01-25.
- ^ "Judge rules on American Financial lawsuit against Amtrak". Cincinnati Business Courier. February 26, 2015.
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