Gainsco insurance company to be acquired by State Farm

Gainsco insurance - business deal - handshake

The acquisition is reported to be for $400 million, according to a news release last week. State Farm and the Dallas-based Gainsco insurance company have come to an agreement in which the former will be acquiring the latter for $400 million. The 98-year-old industry giant has never acquired another insurer in its entire history. The deal will have State Farm purchasing all of the Gainsco insurance company’s stock. The acquired insurer will continue its operation as a separate business. However, in time, the two companies will start the process of…

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