The acquisition will help expand Plymouth’s investment in the motorcycle insurance segment, it said, while also allowing it to market its auto and home insurance products to Rider customers.
“Plymouth Rock has always been interested in expanding our presence in the motorcycle line of business,” Gerry Wilson, CEO and president, Plymouth Rock Management Company of New Jersey, said. “Rider Insurance has a strong reputation within the riding community for delivering exceptional service to motorcycle enthusiasts, which is something that aligns very closely with the core values of Plymouth Rock. We are very excited about this transaction and growing our motorcycle business.”
“I am extremely proud of the company we have built and it has been my honor to lead it and serve the motorcycle community for the past 48 years,” Harry Bleiwise, founder and chairman of the board, Rider Insurance Co., said. “I want to thank all of our customers and employees for making Rider what it is today. I am confident that our customers will be in excellent hands with Plymouth Rock and they will continue to deliver the quality coverage and value our riders have come to expect.”
The deal is subject to approval by the New Jersey Department of Banking and Insurance. Financial terms were not disclosed.