Amwest Acquires Insurer and Bonding Service
Amwest Insurance Group Inc. in Woodland Hills has completed the acquisitions of Condor Services Inc. and Southern California Bonding Service Inc.
Condor is a property and casualty insurer providing trucking and passenger automotive coverage. Amwest purchased the company in a stock swap valued at about $13.2 million.
Southern California Bonding, a large producer of probate and civil litigation bonds, was acquired by Amwest’s subsidiary Amwest Surety Insurance Co.
The terms of the all-cash acquisition were not disclosed.
Amwest is an insurance holding company specializing in surety bonds that guaranty the performance of a contract.
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