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Pie Carrier Holdings has received regulatory approval from the Illinois Department of Insurance to acquire Western Select Insurance Co. from a subsidiary of Premia Holdings Ltd.

Terms of the deal were not disclosed.

The proposed acquisition represents a step by Pie Carrier Holdings, a subsidiary of the insurtech Pie, formed in May 2020, to execute on Pie’s strategy of becoming a full-stack insurance carrier.

Upon the closing of the proposed acquisition, Western Select Insurance Co. will be renamed Pie Casualty Insurance Co.

Since 2017, Pie has received over $300 million in funding and commitments for future funding.

Western Select Insurance Co. is a property/casualty insurance company licensed in Illinois, California, and New York.

Topics Mergers & Acquisitions Illinois