Unistar Acquires its 45th Florida Agency Office and 142nd Office in Three States
14 May 1999
Unistar Acquires its 45th Florida Agency Office and 142nd Office in Three StatesDALLAS, May 13 -- Unistar Financial Service Corp. (OTC Bulletin Board: UNSF) (UNSF) completed the acquisition of another retail auto insurance agency, for a current total of 45 offices throughout Florida. Unistar has acquired West Kendall Insurance, which will immediately take on the name of Unistar Auto Insurance Agency. Marc A. Sparks, Chairman and CEO of Unistar Financial Service Corp., states, "This acquisition springboards Unistar into yet another market of the vast Florida auto insurance industry, as West Kendall Insurance is strategically located within Miami, Florida (Dade County). We will aggressively position ourselves in this marketplace in order to fully capitalize on our direct marketing strategy. The site of this agency, combined with the ever-increasing consumer awareness of the Unistar name, provides a solid platform to expand our auto insurance revenue stream in the Miami area. We anticipate over $60 million dollars of auto insurance and premium finance revenue from these 45 locations; however, our point-of-sale growth strategy in Florida is far from over." Headquartered in Dallas, Texas, Unistar Financial Service Corp. is a leading fully-integrated financial service holding corporation, specializing in auto insurance, renter's insurance, premium financing, and insurance claims management. Unistar Financial Service Corp.'s wholly-owned subsidiaries include U.S. Fidelity Insurance Services, Great Southern, First Choice, Peak Underwriters, Advanced Underwriters and Unistar Select -- managing general agencies, Unistar Auto Insurance Agencies -- retail auto insurance agencies, Renter's Plus -- tenant insurance, Eagle Premium Finance Co., First Grampian Premium Finance Co., Eagle Claims Corp. -- an auto insurance claims company, Talon Financial Services -- a reinsurance brokerage, and Unistar Insurance Company (formerly International Surety & Casualty Company), a property and Casualty insurance company. Additional information is available at: http://www.unistarfinancial.com, or at http://www.prnewswire.com -- Company News on Call. Except for historical information, the forward-looking statements in this news release involve risks and uncertainties and are subject to change based on various factors, including competitive conditions in the insurance industry, unpredictable developments in loss trends, changes in loss reserves, market acceptance of new coverages and enhancements, and changes in levels of general business activity and economic conditions.