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ReAlign Closes Acquisition of National Lloyds, American Summit Insurance Companies
Tuesday 07 July 2020

US-based insurance holding company ReAlign Insurance Holdings, LLC has closed its acquisition of National Lloyds Insurance Company and American Summit Insurance Company from Align Financial Holdings, LLC's Align NL Holdings, LLC subsidiary, the company said.

The carriers are Texas-domiciled admitted insurance companies that write specialty personal property insurance including: homeowners, low value dwelling, mobile and manufactured homes.

NLIC and ASIC hold licenses to write property and casualty insurance in 43 states and are currently rated "A" (Excellent) by AM Best.

The ratings are under review with developing implications pending the completion of AM Best's discussions with ReAlign as the new owners, which are expected to conclude within a few weeks.

As part of the transaction, Align and its affiliates have entered into various agreements to provide program and claims administration services to the Carriers.

ReAlign Insurance Holdings is a new insurance holding company formed by ReAlign Capital Strategies, LLC and private investors to acquire and own broadly licensed admitted and non-admitted insurance companies focused exclusively on the specialty program insurance marketplace in the US

Headquartered in San Diego, California, Align Financial Holdings, LLC is an insurance holding company that owns and operates leading specialist program underwriting managers.

The company's subsidiaries include: Align General Insurance Agency, LLC, Catalytic Risk Managers and Insurance Agency, LLC, Deposit Choice, LLC and NALICO General Agency, Inc.
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Date Published: 07/07/2020

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