Companies

CopperPoint Completes $84.3 Million Cash Purchase of General Indemnity

The Tip Desk · October 26, 2026 · 2 min read

Boston Omaha sold its surety unit after a decade of expansion, holding the cash for later deployment.

CopperPoint Insurance Company completed an all-cash purchase of General Indemnity Group, LLC, Boston Omaha Corporation’s (BOC) surety insurance business, for $84,308,757.

The Phoenix, Arizona specialty insurer acquired all of the outstanding equity interests of GIG, which operates through United Casualty & Surety Insurance Company and the BOSS Bonds placement platform, and also includes SuretyBonds.Market, a proprietary technology platform developed by GIG. CopperPoint, founded in 1925 as the Arizona workers’ compensation state fund and converted to a mutual company in 2013, is rated A (Excellent) by AM Best.

Boston Omaha had invested in the surety business in 2016, acquiring UCS when it was licensed only in Massachusetts and a small subset of other eastern states. Over the following ten years, UCS became licensed in all 50 states and the District of Columbia, and BOSS Bonds acquired a number of specialty surety brokerage firms. For the fiscal year ended December 31, 2025, GIG reported total revenues of $27.2 million.

Adam K. Peterson, Boston Omaha’s President and Chief Executive Officer, said the company greatly appreciated the leadership of Dave Herman and Bob Thomas in managing revenue growth, expanding the scope of the surety business and building out the technology portal for brokers over the last several years. “We believe that the GIG team’s capabilities combined with CopperPoint’s scale, financial strength, and excellent reputation will position the surety insurance business for continued growth in the future,” he said.

The sale is one of several recent surety and specialty-insurance transactions in the sector. In October 2025, Palomar Holdings agreed to acquire The Gray Casualty & Surety Company for $300 million in cash. In August 2026, American Family agreed to acquire Bowhead Specialty Holdings in an all-cash deal valued at approximately $1.2 billion.

Boston Omaha, a public holding company with wholly-owned subsidiaries engaged in outdoor advertising, broadband telecommunications services and asset management, said proceeds from the sale will be held as cash and cash equivalents to be deployed into opportunities as they come about, whether within current business interests, new investments, and/or share repurchases.