INSURANCE COMMISSIONER'S OFFICE
[Filed June 3,1998, 11:52 a.m.]
No. G 98 - 23
notice of hearing
In the matter of the acquisition of eagle pacific insurance company.
to: John K. Conway, General Counsel
Lumbermen's Mutual Casualty Company
One Kemper Drive
Long Grove, Illinois 60049
William M. Wood
Carney Badley Smith & Spellman
701 - 5th Avenue, Suite 2200
Seattle, Washington 98104
Dennis J. Specht
Services Group of America, Inc.
4025 Delridge Way, S.W.
Seattle, Washington 98106
Jeffrey L. Gingold
Lane Powell Spears Lubersky
1420 - 5th Avenue, Suite 4100
Seattle, Washington 98101-2338
Eagle Pacific Insurance Company (Eagle Pacific) is a domestic Washington property and casualty insurance company. Eagle Pacific is a member of Eagle Insurance Group. The ultimate controlling person of Eagle Insurance Group is Services Group of America, Inc.
Lumbermens Mutual Casualty Company (Lumbermens) has announced its intention to acquire Eagle Pacific. Lumbermen's is a domestic Illinois property and casualty insurance company. Lumbermens has held a Certificate of Authority authorizing it to transact property and casualty insurance business in Washington since 1919. Lumbermens is the controlling person of a group of property and casualty insurance companies known as Kemper Insurance Companies.
The acquisition of a domestic Washington insurance company is controlled by Chapter 48.31B RCW. Pursuant to RCW 48.31B.015 and WAC 284-18-910, a Form "A" submission has been made by Lumbermens. The Form "A" was deemed complete June 1, 1998. The determination that the Form "A" was complete begins the 60 day period within which the Insurance Commissioner must hold a hearing and decide whether to approve the change of control of Eagle Pacific.
you are hereby notified that a hearing will be held commencing Wednesday, July 8, 1998, at 10:00 a.m. in the Company Supervision Conference Room of Lacey Financial Plaza, 420 Golf Club Road, Lacey, Washington, 98503, to consider the proposed acquisition of Eagle Pacific.
The hearing will be held under the authority granted the Commissioner by Chapter 48.04 RCW and RCW 48.31B.015. RCW 48.31B.015 lists the findings which must be made before approval can be given to any proposed acquisition of control over a Washington domestic insurer.
The basic facts relied upon are those set forth in the Form "A" filed with the Commissioner. The complete Form "A" will be made part of the record of the hearing.
The Commissioner has not taken, and will not take, any position on this matter prior to entry of the hearing order.
All parties may be represented at the hearing. They may examine witnesses and fully respond and present evidence and argument on all issues involved, as required by the Administrative Procedure Act. The hearing will be governed by the Administrative Procedure Act, Chapter 34.05 RCW, and the model rules of procedure contained in Chapter 10-08 WAC. A party who fails to attend or participate in any stage of the proceeding may be held in default in accordance with Chapter 34.05 RCW.
The Commissioner will be represented by Dennis Julnes, Chief Financial Analyst, and James E. Tompkins, Assistant Deputy Commissioner.
Assistant Deputy Commissioner John B. Woodall will hear and determine this matter. His address is Office of the Insurance Commissioner, Post Office Box 40259, Olympia, Washington 98504-0259. His telephone number is (360) 407-0535.
entered at olympia, washington, this 3rd day of June, 1998.
By: John B. Woodall
Assistant Deputy Commissioner
for Company Supervision