Philadelphia-based PMA Capital announced that it has filed a Form 8-K with the Securities and Exchange Commission describing certain voluntary agreements between its wholly owned subsidiary, PMA Capital Insurance Company (PMA Re) and the Pennsylvania Insurance Department. PMA Re previously provided the Company’s reinsurance products.
Commenting on the outcome of discussions with the PID, Vincent T. Donnelly, head of the interim-Office of the President, stated “We are pleased with the outcome of our discussions with the Department of Insurance. This is an important step in accomplishing our withdrawal from the reinsurance business and continuing all of The PMA Insurance Group’s primary insurance operations on a ‘business as usual’ basis.'”
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