Darwin to Purchase Great American’s Lawyers Professional Liability Business

    FARMINGTON, Conn., Aug. 25 /
EMWNews
/ -- Darwin

Professional Underwriters, Inc. (NYSE: DR) and Great American Insurance

Company today announced an agreement whereby Darwin will acquire renewal

rights to Great American's roughly $20 million of small, standard market

Lawyers Professional Liability (LPL) insurance business and related assets.

Darwin currently has over $20 million of in-force premium, a mix of surplus

lines and small, standard LPL business. This transaction strengthens

Darwin's LPL franchise and broadens its already significant national

presence in the small law firm market. Darwin intends to leverage the best

practices of Great American and keep the business process consistent to

ensure a smooth transition and little disruption for Great American

policyholders and producers. Darwin's renewal rights are expected to

commence with policies effective October 1, 2008. No liabilities associated

with Great American's existing LPL policies are being transferred to Darwin

in this transaction.



    



    Darwin's Senior Vice President and National E&O Practice Leader Nicole

Haggerty commented, "This purchase allows Darwin to dramatically increase

our small law firm book, by bringing our existing expertise and strong

service capabilities to the small, standard law firm market. Darwin is very

much in the Lawyers business, so this is an excellent fit that we are

confident will provide significant benefits not only for Darwin, but also

for both producers and policyholders."



    Kevin Gadbois, Executive Vice President of the Executive Liability

Division for Great American Insurance Company, echoed Haggerty's

sentiments. "Darwin is a strong, high-performing specialty insurance group

with a great reputation and commitment to service," he said. "We are

pleased to enter into a business arrangement that allows our producers and

policyholders to continue to receive exceptional coverage and service from

a respected and stable market committed to the Lawyers business. We are

also committed to implementing a smooth and seamless transition of the

business."



    Important Information



    This press release may contain projections, comments, and other

forward-looking statements as defined in the Private Securities Litigation

Reform Act of 1995. Each forward-looking statement is based on Darwin's

plans and expectations, as well as on current events and industry trends.

Such statements are subject to risks and uncertainties, and the actual

outcomes or results may differ materially from those expressed or implied

by any of these statements.

    About Darwin Professional Underwriters, Inc.



    Darwin is a specialty insurance group based in Farmington, Connecticut.

The company is focused on the professional liability insurance market and

underwrites directors and officers ("D&O") liability for public and private

companies, errors and omissions ("E&O") liability insurance, medical

malpractice liability insurance, and other specialty coverages. Darwin

member companies include Darwin Professional Underwriters, Inc., Darwin

National Assurance Company (DNA), and Darwin Select Insurance Company

(Darwin Select). DNA and Darwin Select have earned a financial strength

rating of "A- (Excellent)" from A.M. Best Company. Darwin is traded on the

New York Stock Exchange under the ticker symbol, "DR." For more information

about Darwin, visit http://www.darwinpro.com.



    About Great American Insurance Group



    The Great American Insurance Group's roots go back to 1872 with the

founding of its flagship company, Great American Insurance Company. Based

in Cincinnati, Ohio, the operations of Great American Insurance Group are

engaged primarily in property and casualty insurance, focusing on specialty

commercial products for businesses, and in the sale of traditional fixed,

indexed and variable annuities and supplemental insurance products. This

year marks the 100th year that Great American Insurance Company has

received an "A (Excellent)" or higher rating from the A. M. Best Company

(as of December 17, 2007). The members of the Great American Insurance

Group are subsidiaries of American Financial Group. Inc. (AFC), also based

in Cincinnati, Ohio. AFG's common stock is listed and traded on the New

York Stock Exchange (NYSE) and NASDAQ under the symbol AFG.