American Premier Underwriters

American Premier Underwriters is a property and casualty insurance company that was established as the Pennsylvania Railroad in 1846. It was formerly known as the Penn Central Transportation Company and it currently owns non-rail assets. The company is headquartered in Cincinnati, Ohio. In addition to casualty insurance, the company is also in the business of fire and marine insurance.[1]

American Premier Underwriters
TypePublicly traded
IndustryInsurance
Founded1846
HeadquartersCincinnati, Ohio
ProductsProperty insurance
Casualty insurance

History

During the nineteenth century the company was the Pennsylvania Railroad. It was established on April 13, 1846.[2] In March 1994, the company went through a name change and became American Premier Underwriters, Inc. [3]

In December 1994, the company, which was 40.4 percent owned by the American Financial Corporation, announced that it would be acquiring the parent company in a stock merger.[4]

In 1995, as a publicly traded company, APU reportedly had 5,400 employees and sales of $1.8 billion.[4]

Amtrak lawsuit

The company sued Amtrak to force the passenger railroad company to redeem shares that Penn Central received at the time it transferred much of its passenger rail assets to Amtrak.[5] The case was dismissed in 2015.[6]

References
  1. "American Premier Underwriters Inc". SEC Report. Retrieved 2021-08-21.
  2. "American Premier Underwriters Inc". Bloomberg. Retrieved 2021-08-17.
  3. "Insurance Unit to Buy its Parent in Stock Merger". The New York Times. Reuters. December 13, 1994. Retrieved 2021-11-28.
  4. "American Premier Underwriters, Inc". International Directory of Company Histories, Vol. 10. St. James Press, 1995, reproduced by Funding Universe. Retrieved 2009-01-25.
  5. "Judge sends AFG's Amtrak claims to arbitrator". Cincinnati Business Courier. December 5, 2008. Retrieved 2009-01-25.
  6. "Judge rules on American Financial lawsuit against Amtrak". Cincinnati Business Courier. February 26, 2015.


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