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White Mountains to acquire Empire

White Mountains Solutions Holding Company, a wholly owned subsidiary of Bermuda-based White Mountains Insurance Group Ltd. and the group’s specialist runoff acquisition operation, announced yesterday it has agreed to buy Empire Insurance Co. from Leucadia National Corp.White Mountains Insurance Group, Ltd. is a Bermuda-domiciled financial services holding company traded on the New York Stock Exchange and the Bermuda Stock ExchangeThe acquisition is expected to close during the second quarter, and needs regulatory approval from the New York Department of Financial Services.The terms of the deal have not been disclosed.In December, White Mountains Solutions agreed to acquire American Fuji Fire and Marine Insurance Co., a small runoff unit of American International Group Inc.The acquisition was expected to close during the first quarter of this year, subject to approval from the Illinois Department of Insurance and closing conditions. Financial terms also weren’t disclosed.Earlier, White Mountains Insurance Group said its run-off acquisition unit completed the acquisition of four companies in runoff.White Mountains Solutions acquired Physicians Insurance Company of Ohio and Citation Insurance Co. from PICO Holdings, and American General Indemnity Co. and American General Property Insurance Co. from AIG.In June 2012, White Mountains said it would acquire Physicians and Citation for $17 million.