National General enters into renewal rights transaction with Nationwide for its non-standard auto business
National General Holdings Corp. today announced that it has entered into a renewal rights transaction with Nationwide Mutual Insurance Company for its personal and commercial non-standard vehicle in-force policies. National General will partner with Nationwide’s exclusive and independent agent force to sell its policies to their non-standard auto customers.
National General Chief Executive Officer Barry Karfunkel stated: “Our transaction with Nationwide will give National General the opportunity to expand our non-standard auto business, an area of the market where we have a great amount of expertise, through Nationwide’s exemplary exclusive and independent agents. This transaction adds additional scale to one of our core products and we expect it to have a positive impact on our results. We look forward to working with Nationwide’s associates and agents and providing a smooth transition for its customers.”
About National General Holdings Corp.
National General Holdings Corp., headquartered in New York City, is a specialty personal lines insurance holding company. National General traces its roots to 1939, has a financial strength rating of A- (excellent) from A.M. Best and provides personal and commercial automobile, homeowners, umbrella, recreational vehicle, motorcycle, supplemental health, and other niche insurance products.