Boston Omaha to sell surety insurance unit to CopperPoint Insurance

Boston Omaha Corporation (NYSE: BOC) entered into a definitive agreement to sell its surety insurance business to CopperPoint Insurance Company in an all-cash transaction, the company announced.

The deal involves the sale of General Indemnity Group, which operates through two subsidiaries: United Casualty & Surety Insurance Company and surety placement platform BOSS Bonds. The acquisition also includes SuretyBonds.Market, a technology platform developed by General Indemnity Group.

The transaction is expected to close before year-end 2026, pending regulatory approvals from the Nebraska Department of Insurance and other customary closing conditions.

CopperPoint, based in Phoenix, Arizona, is a specialty insurance company focused on workers' compensation with an expanding property and casualty offering. The company was founded in 1925 as Arizona's workers' compensation state fund and became a mutual company in 2013. CopperPoint and its subsidiaries hold an A rating from AM Best.

For the fiscal year ended December 31, 2025, General Indemnity Group reported total revenues of $27.2 million. Boston Omaha acquired the surety business in 2016 when United Casualty & Surety was licensed only in Massachusetts and select eastern states. The subsidiary now operates in all 50 states and the District of Columbia.

"We invested in the surety insurance business in 2016, acquiring UCS at a time when it was licensed to sell surety bonds exclusively in Massachusetts and a small subset of other states in the eastern United States," said Adam K. Peterson, Boston Omaha's president and chief executive officer.

Boston Omaha plans to hold the proceeds as cash and cash equivalents to deploy into future opportunities within current business interests, new investments, or share repurchases. The company operates as a holding company with businesses in outdoor advertising, broadband telecommunications, surety insurance and asset management.

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