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PA Bulletin, Doc. No. 18-1767

NOTICES

INSURANCE DEPARTMENT

Application and Request for Approval of Medical Professional Liability Reciprocals Exchange-to-Stock Conversions and Subsequent Acquisition of Control

[48 Pa.B. 7189]
[Saturday, November 10, 2018]

 Professional Casualty Association (PCA), Physicians' Insurance Program Exchange (PIPE) and Positive Physicians Insurance Exchange (PPIE), Pennsylvania domiciled reciprocal and inter-insurance exchanges, have filed an application for the conversion of each PCA, PIPE and PPIE to stock form under 40 Pa.C.S. §§ 3501—3517 (relating to medical professional liability reciprocal exchange-to-stock conversion). The PCA Plan of Conversion, PIPE Plan of Conversion and PPIE Plan of Conversion are noted by the applicants to be ''interdependent'' and involve a series of transactions to include the merger of the converted PCA and the converted PIPE into the converted PPIE and the formation of a stock holding company. The application was received on September 25, 2018.

 In conjunction with the filing previously mentioned, Insurance Capital Group, LLC and Enstar Holdings (US) LLC, both organized in Delaware, submitted a request for approval to acquire a controlling interest in the converted PPIE. The acquisition filing, received on September 26, 2018, was made under the Insurance Holding Companies Act (40 P.S. §§ 991.1401—991.1413).

 The filings are available on the Insurance Department's (Department) web site at www.insurance.pa.gov. After first scheduling an appointment at (717) 787-0877, consumers may also view the application and supplemental documents at the Department's Harrisburg office.

 Persons wishing to comment on the grounds of public or private interest are invited to submit a written statement to the Department within 30 days from the date of publication of this notice in the Pennsylvania Bulletin. Each written statement must include the name, address and telephone number of the interested party; identification of the application to which the statement is addressed; and a concise statement with sufficient detail and relevant facts to inform the Department of the exact basis of the statement. Written statements should be directed to Cressinda Bybee, Company Licensing Division, Insurance Department, 1345 Strawberry Square, Harrisburg, PA 17120, fax (717) 787-8557, cbybee@pa.gov.

 Comments received will be part of the public record regarding the filings and will be forwarded to the applicants for appropriate response.

JESSICA K. ALTMAN, 
Insurance Commissioner

[Pa.B. Doc. No. 18-1767. Filed for public inspection November 9, 2018, 9:00 a.m.]


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