Continental General Acquires Kanawha Insurance Company for $2.4B

Continental General Insurance Company (CGIC), the insurance subsidiary of public diversified holding company HC2 Holdings Inc., acquired long-term care insurer Kanawha Insurance Company for approximately $2.4 billion in cash and invested assets. Our firm represented CGIC in the transaction with a multidisciplinary team that included attorneys from the corporate, long-term care insurance and tax practice groups. The acquisition strengthens CGIC’s position in the long-term care insurance industry and positions it for future acquisitions.