Berkshire Hathaway Acquires Two Cali Workers' Comp Firms

Berkshire Hathaway (BRKA, BRKB) announced on July 19 that it is buying AARIS and ACCA for an undisclosed sum.

The two California workers' compensation firms being acquired, American All-Risk Insurance Services (AARIS) and American Commercial Claim Administrators (ACCA), provide underwriting, operational, and claims-management services for California workers' comp insurers through a network of agents. This network will become a part of Berkshire subsidiary Columbia Insurance Co. The transaction is expected to close in July.

AARIS and ACCA are wholly-owned subsidiaries of Acacia Pacific Holdings. Lou Rovens, the founder and principal owner of the businesses, will continue to operate Acacia and its related non-workers compensation insurance activities, Berkshire explained.