Constellation Acquiring Medical Professional Liability Insurer Arkansas Mutual

Constellation, a mutual holding company, announced that Little Rock-based medical professional liability insurance provider, Arkansas Mutual Insurance Co., is joining its family of companies.

Arkansas Mutual will be the third Constellation member company, joining MMIC and UMIA. The terms of the transaction were not disclosed.

Combined, MMIC, Arkansas Mutual and UMIA insure more than 20,000 healthcare providers in 16 states. All three serve the entire healthcare spectrum: physicians, clinics, large hospitals and health systems, and outpatient and long-term care facilities.

The transaction is expected to close in the third quarter of 2015 and is subject to customary due diligence, regulatory approvals and Arkansas Mutual policyholder approval.

Constellation is based in Minneapolis, Minn.

Source: Constellation