July 5, 2016
Western National Completes Purchase of Nevada-Based Company
(Minneapolis, Minn.) Western National Insurance Group of Edina, Minn. today announced that it has completed the purchase of 100 percent of the stock of Las Vegas, Nev.-based Nevada General Insurance Company, AIC America, and its wholly owned affiliates Auto Insurance America (New Mexico) and Auto Insurance America (Arizona) from Mutual of Enumclaw Insurance Company. This closing follows due diligence and the receipt of approval by Nevada General’s shareholders, Western National’s board of directors, and regulatory authorities.
Nevada General and its affiliates will continue to operate locally in Las Vegas, reporting to Western National’s existing non-standard auto insurance company, Arizona Auto Insurance Company, based in Phoenix, Ariz. The newly added companies will continue to write non-standard auto insurance in Nevada and New Mexico, under the ultimate management and control of Western National and with its full financial support.
“With the sale complete, we can now move forward in working with Nevada General’s fine staff to expand its presence in the Southwest,” said Stuart Henderson, President and Chief Executive Officer of Western National Insurance Group. “We look forward to our partnership providing enhanced stability that will benefit every policyholder in our expanded group of companies.”
Western National Insurance Group, headquartered in Edina, Minn., is a super-regional property-and-casualty insurance group writing over $520 million in Direct Premium in 19 states, plus Surety in an additional 7 states. The group consists of seven active companies (Western National Mutual Insurance Company, Western National Assurance Company, Pioneer Specialty Insurance Company, Western Home Insurance Company, Arizona Auto Insurance Company, Umialik Insurance Company, and American Freedom Insurance Company) serving personal and commercial customers in the Midwestern, Northwestern, and Southwestern U.S, and Alaska. All of the group’s products are sold exclusively through professional independent agents.
Philo Smith & Company acted as sole financial advisor to Mutual of Enumclaw on the transaction.
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Steve Norman, CPCU, M.A., AIT
Assistant Vice President – Communications
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