has been acquired by

Zenith National Insurance Corp.

Riscorp is an underwriter of workers' compensation insurance.

The undersigned acted as financial advisor to Riscorp in this Transaction



Riscorp was an underwriter of worker's compensation insurance.


Riscorp’s management had been ousted due to improprieties and the company’s Board had engaged an investment banker to sell the company. The process was nearing a conclusion and King & Spalding, counsel to the former CEO and largest shareholder, asked Croft & Bender to represent their client in the final days of negotiations.


Croft & Bender was able to insert a second bidder and negotiate a transaction that increased consideration to shareholders by over 100% in less than a week's time.