We are delighted about this acquisition, and welcome the HIVT shareholders and policyholders into our Penn Treaty family," commented PTAC President and Chief Executive Officer, Irving Levit.
Everyone at HIVT is extremely pleased with the consummation of this merger," said HIVT President, John W.
The completion of the acquisition is subject to certain conditions including negotiation and execution of a definitive agreement and approval of the transaction by HIVT
shareholders and appropriate regulatory authorities.
I am very pleased that we have entered into a letter of intent on a merger with Penn Treaty," said HIVT Chairman, Robert S.
While the long-term care marketplace remains our primary focus it is our intention to combine the insurance portfolios of PTAC and HIVT which we believe will allow us to attain premium growth in both companies.
today jointly announced that they have signed a letter of intent for a merger of HIVT
with a subsidiary of Penn Treaty.