Plymouth Rock Assurance announced Thursday, Oct 17, it has finalized its purchase of New Jersey’s largest motorcycle insurance provider, the Rider Insurance Company.
In a press release, Gerry Wilson, President and CEO of the Plymouth Rock Management Company of New Jersey, said the acquisition is directed to help the company focus on the motorcycle insurance segment and expand its current product portfolio.
“We look forward to focusing on the motorcycle insurance segment of the business and expanding our current product offerings,” shared Mr. Wilson. “Plymouth Rock and Rider share a common history built on trust and reliability, and we’re excited to welcome a new group of customers and riding enthusiasts to Plymouth Rock.”
Founded in 1971, the Rider Insurance Company stands as the largest motorcycle insurance provider in the state and the only insurance carrier serving the motorcycle community exclusively. Based in Springfield, it works by providing low cost Motorcycle Insurance and ATV / Off-Road Vehicle Insurance to customers.
To date, the company enjoys strong presence in New Jersey, Delaware, Indiana, Maryland, Michigan, Ohio, Pennsylvania, and Virginia. It is also reported to generate $21 million in annual premiums.
“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,” said Rider Insurance founder and chairman of the board, Harry Bleiwise, when the agreement was first announced. “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 agreement between the two companies was revealed in mid-July and is expected to help Plymouth Rock in its engagement with the motorcycle insurance segment and market its insurance products to Rider customers.
