October 4, 2007
MEMIC expands its reach
MEMIC Indemnity Co., a subsidiary of The MEMIC Group in Portland, recently received authorization from state regulatory authorities to cover workers' compensation insurance in Rhode Island, North Carolina, Virginia and Colorado.
Michael Bourque, a spokesman for MEMIC, told Mainebiz that the New Hampshire-based subsidiary's annual revenue will grow 15% this year to $35 million. Expanding to more states "helps us diversify our company so we are more stable over the long term," Bourque said.
The MEMIC Group, which was founded in 1993 in Portland, now offers workers' comp to employers in 42 states.
Michael Bourque, a spokesman for MEMIC, told Mainebiz that the New Hampshire-based subsidiary's annual revenue will grow 15% this year to $35 million. Expanding to more states "helps us diversify our company so we are more stable over the long term," Bourque said.
The MEMIC Group, which was founded in 1993 in Portland, now offers workers' comp to employers in 42 states.
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