National General Holdings Corp.

National General Holdings Corp.

National General Holdings Corp.

Overview
Date Founded

2009

Headquarters

59 Maiden Lane, 38th Floor, New York, NY, 10038, USA

Type of Company

Public

Employees (Worldwide)

9,200

Industries

Insurance: Property & Casualty
Reinsurance

Company Description

National General Holdings Corp. is a specialty personal lines insurance company, which engages in the provision of specialty personal lines insurance products. The firm's products include personal and commercial automobile insurance; health insurance products; and other niche insurance products. It operates through the following business segments: Property and Casualty (P&C); and Accident and Health (A&H). The P&C segment operates its business through the following distribution channels: agency, affinity, and direct. The A&H segment offers accident and non-major medical health insurance products. The company was founded by Michael Karfunkel in 2009 and is headquartered in New York, NY.

Contact Data
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Executives & Employees

Chief Executive Officer

Executive Vice President, Chief Financial Officer & Treasurer

Chief Operating Officer, Treasurer & Executive Vice President

Executive Vice President, General Counsel & Secretary

Executive Vice President & Chief Information Officer

President of National General Preferred & Chief Product & Analytics Officer

Chief Claims Officer & Executive Vice President

Senior Vice President & Chief Accounting Officer

Executive Vice President of Sales & Strategy

Executive Vice President of P&C Product Management

Board of Directors

President at The Allstate Corp.

Chief Executive Officer at National General Holdings Corp.

Former President at Renaissance Underwriting Managers Ltd.

Chief Executive Officer & Director at Allstate Life Insurance Company

Executive Vice President, Allstate Technology & Strategic Ventures, Allstate Insurance Company at The Allstate Corp.

President, Personal Property-Liability-Allstate Insurance Company at The Allstate Corp.

Executive Vice President, Chief Legal Officer, General Counsel & Secretary of the Company & AIC at The Allstate Corp.

Vice Chair at The Allstate Corp.

Founder at American Society of Workers Compensation Professionals, Inc.

Chief Financial Officer & Executive Vice President at The Allstate Corp.

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National General Holdings Corp.
Owners & Shareholders
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Water Island Capital specializes in event-driven investing and executes its capabilities within a merger arbitrage framework and a special situations framework. The firm employs a fundamental research process, conducting bottom-up analysis of each event opportunity by assessing the strategic rationale, risk/reward, trading dynamics, shareholder registry, regulatory requirements, industry trends and other idiosyncratic factors that are instrumental in the successful outcome of each corporate event.

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Alpine manages the investment portfolios of the Alpine Funds and the accounts of their other clients using several strategies. Their main strategies are merger arbitrage and long/short equity trading. The firm also uses other strategies including convertible arbitrage and investing in bankruptcy and other credit opportunities. They seek to produce superior risk-adjusted returns with low volatility in all types of market environments.

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Glazer’s methods of analysis include legal and regulatory analysis; fundamental analysis; technical analysis; and scenario analysis. Their two main strategies are the Merger Arbitrage Strategy and the EM Arbitrage Strategy. The Merger Arbitrage funds invests in merger arbitrage transactions, which are typically definitive announced deals with a signed merger agreement, as well as other related corporate event investment strategies. For the EM Arbitrage Strategy, Glazer will seek to identify investment opportunities derived from price inefficiencies between two assets in emerging markets in Latin America, Central and Eastern Europe, Africa and Emerging Asia.

Recent Transactions
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The Allstate Corp. purchases National General Holdings Corp.

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Impilo AB purchases Euro Accident Health & Care Insurance AB from National General Holdings Corp.

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National General Holdings Corp. purchases National Farmers Union Property & Casualty Co. from QBE Insurance Group Ltd.

Transaction Advisors
Investment Advisor

Advised onNational General Holdings Corp. raised money in a private placement transaction

Escrow Agent

Advised onNational General Holdings Corp. issued USD Common Stock

Underwriter

Advised onNational General Holdings Corp. issued USD Common Stock

Legal Advisor

Advised onNational General Holdings Corp. purchases National Farmers Union Property & Casualty Co. from QBE Insurance Group Ltd.

Legal Advisor

Advised onThe Allstate Corp. purchases National General Holdings Corp.

Attorney

Advised onImpilo AB purchases Euro Accident Health & Care Insurance AB from National General Holdings Corp.

Key Stats and Financials As of 2019
Market Capitalization
$3.87B
Total Enterprise Value
Earnings Per Share
Revenue
$4.94B
Investments
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Matic Insurance Services, Inc. operates as a technology driven insurance agency. It provides web and mobile applications to connect borrowers and loan officers in real time. The company was founded by Aaron Schiff and Benjamin Madick in 2014 and is headquartered in Sherman Oaks, CA.

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State National Cos., Inc. provides insurance services. The firm specializes property and casualty insurance services operating in two niche markets Lender Services and Program Services. Its Lender Services business insures personal automobiles and other vehicles as collateral for loans made by credit unions, banks, and specialty finance companies. Its Program Services business provides access for reinsurers and other capital providers to the US property and casualty insurance market in exchange for ceding fees and is recognized as the largest and longest-standing pure-play fronting business in the US insurance industry. The company was founded by Lonnie Kossuth Ledbetter, Jr. and Terry Lee Ledbetter in 1973 and is headquartered in Bedford, TX.

Suppliers
Hannover Ruck SE Other Insurance Services | Hannover, Germany

Hannover Rueck SE engages in the provision of reinsurance activities. It operates through the Property and Casualty Reinsurance, and Life and Health Reinsurance business segments. The company was founded on June 6, 1966 and is headquartered in Hannover, Germany.

North Carolina Reinsurance Facility Reinsurance | Raleigh, NC

North Carolina Reinsurance Facility The company was founded on October 9, 1973 and is headquartered in Raleigh, NC.

Michigan Catastrophic Claims Association Retail & Commercial Banking | Livonia, MI

Michigan Catastrophic Claims Association is an American private company located in Livonia, MI, that provides financial services.

Competitors
The Travelers Cos., Inc. Other Insurance Services - New York, NY

The Travelers Companies, Inc. is an American insurance company. It is the second largest writer of U.S. commercial property casualty insurance and the third largest writer of U.S. personal insurance through independent agents. Travelers is incorporated in Minnesota, with headquarters in New York City and its largest office in Hartford, Connecticut. Travelers also maintains a large office in St. Paul, Minnesota.It has been a component of the Dow Jones Industrial Average since June 8, 2009.

Berkshire Hathaway, Inc. Other Insurance Services - Greenwich, Connecticut

Berkshire Hathaway, Inc. provides property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing, and services. It operates through following segments: GEICO, Berkshire Hathaway Reinsurance Group, Berkshire Hathaway Primary Group, Burlington Northern Santa Fe, LLC (BNSF), Berkshire Hathaway Energy, McLane Company, Manufacturing, and Service and Retailing. The GEICO segments involves in underwriting private passenger automobile insurance mainly by direct response methods. The Berkshire Hathaway Reinsurance Group segment consists of underwriting excess-of-loss and quota-share and facultative reinsurance worldwide. The Berkshire Hathaway Primary Group segment comprises of underwriting multiple lines of property and casualty insurance policies for primarily commercial accounts. The BNSF segment operates railroad systems in North America. The Berkshire Hathaway Energy segments deals with regulated electric and gas utility, including power generation and distribution activities, and real estate brokerage activities. The McLane Company segment offers wholesale distribution of groceries and non-food items. The Manufacturing segment includes industrial and end-user products, building products, and apparel. The Service and Retailing segment provides fractional aircraft ownership programs, aviation pilot training, electronic components distribution, and various retailing businesses, including automobile dealerships, and trailer and furniture leasing. The company was founded by Oliver Chace in 1839 and is headquartered in Omaha, NE.

Progressive Corp. Insurance: Property & Casualty - Mayfield Village, OH

Progressive Corp. is an insurance holding company, which engages in the provision of personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services. It operates through the following segments: Personal Lines, Commercial Lines and Property. The Personal Lines segment includes agency and direct businesses. The Commercial Lines segment writes primary liability and physical damage insurance for automobiles and trucks owned and operated predominately by small business in the auto, for-hire transportation, contractor, for-hire specialty, tow, and for-hire livery markets. The Property segment covers residential property insurance for homeowners, other property owners, and renters. The company was founded in 1965 and is headquartered in Mayfield Village, OH.

Awards & Honors
Rank #838
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
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