Business

Mich. company buys Columbia insurer

The Davis-Garvin Agency, a Columbia-based insurer that spawned a family of companies, has been sold.

Southfield, Mich.-based North Pointe Holdings is paying $41 million in a deal for Capital City Holdings Co., parent of Capital City Insurance, and Capital Affiliates Davis-Garvin Holdings, Capital Excess & Surplus Brokers, Southeastern Claims Services and Safeco Products.

Davis-Garvin, begun in 1981, specializes in writing insurance for the forestry industry. Over time the company grew to include other lines of insurance and insurance services.

North Pointe Holdings is publicly traded on Nasdaq under the symbol NPTE.

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