Octave's Everspan agrees to sell Providence Washington Insurance to Falvey Insurance Group
OSG•Everspan agreed to sell Providence Washington Insurance Company to Falvey Insurance Group, a deal expected to increase Everspan's tangible book value by approximately $11 million and reduce operating costs without diminishing capabilities.
1. Expected financial impact
Everspan, a wholly owned subsidiary of Octave Specialty Group, agreed to sell Providence Washington Insurance Company to Falvey Insurance Group. The sale is expected to increase Everspan's tangible book value by approximately $11 million while reducing operating costs without diminishing capabilities. Everspan acquired the Rhode Island-domiciled insurer in 2021.
