National General Enters into Renewal Rights Transaction with Nationwide For its Non-Standard Auto Business
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NEW YORK, Dec. 08, 2016 (GLOBE NEWSWIRE) -- National General Holdings Corp. (Nasdaq: NGHC) 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.
Investor Contact Christine Worley Director of Investor Relations Phone: 212-380-9462 Email: [email protected]Source: National General Holdings Corp.
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