Boston insurer ProMutual has completed its acquisition of medical liability insurer and integrated risk management company FinCor Holdings Inc. and its subsidiaries.

ProMutual and its parent, Medical Professional Mutual Insurance Co., will add MHA Insurance Co., Washington Casualty Co., FinCor Solutions, The Risk Management and Patient Safety Institute Inc. and Capital Risk Solutions to its roster.

In June, ratings agency A.M. Best said the financial strength (FSR) and issuer credit (ICR) ratings of ProMutual would remain unchanged after announcing its intention to acquire FinCor.

The insurer has an FSR of ‘A-‘ and an ICR of ‘a-,’ Best said.

"ProMutual Group’s financial strength and excellent resources and services are a great addition to the available assets FinCor policyholders rely upon," said Thomas F. Dickinson, president and CEO of FinCor. 

ProMutual intends to preserve the FinCor-affiliate brands and operate FinCor as an independent subsidiary of ProMutual.

FinCor operates insurance subsidiaries in Michigan and Washington. The transaction was approved by the Michigan Office of Financial and Insurance Regulation, the Washington State Office of the Insurance Commissioner and the FinCor shareholders.