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Stock Market & Financial Investment News

News Breaks
June 20, 2014
17:19 EDTPIHLegion Partners reports 7.2% stake in 1347 Property Insurance
Legion believes the shares, which currently trade at only a small premium to tangible book value, are meaningfully undervalued versus the company’s self-defined peers. Given this undervaluation and the significant opportunities Legion believes are available to the company to meaningfully expand its business given the capital which the company has successfully raised, Legion, in their capacity as stockholders of the company, plan to work proactively, where possible, to help it accelerate its business expansion.
News For PIH From The Last 14 Days
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December 11, 2014
08:33 EDTPIH1347 Property Insurance to acquire ClaimCor, LLC
1347 Property Insurance Holdings announced that it has entered into a definitive agreement to acquire ClaimCor, LLC, a claims and underwriting technical solutions company. The acquisition will complement the company’s strategic plan and growth objectives relative to its infrastructure expansion while also providing the company with an additional source of revenue from ClaimCor’s evolving and expanding customer base in the insurance services outsourcing industry. The transaction is expected to close on January 1, 2015, subject to the completion and satisfaction of the company’s due diligence process and customary closing conditions, and will be fully funded from the company’s working capital. Terms of the transaction were not disclosed.

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