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Tokio Marine Kiln Closes Acquisition of WNC Holdings
Thursday 12 July 2018

12 July 2018 - UK-based insurance company Tokio Marine Kiln has bought the remaining 51% share in US-based specialty insurance products and services provider WNC Holdings, the company said.

WNC, a Managing General Underwriter, provides a range of specialty risk management solutions including private flood, builders' risk and lender–placed products. It expects approximately USD 200m of net written premium in 2018.

TMK has worked in partnership with WNC since 1986 and acquired a 49% share of the company in June 2011.

WNC will retain its existing brand as it continues to drive growth in its Flood and Construction divisions and launches its HomeownerSelect product for mortgage servicers.

Formed in 1962 and now with more than 200 employees, WNC focuses on providing insurance solutions to our partners. WNC is in private flood, construction / builder's risk and lender-placed insurance.

Tokio Marine Kiln is an international underwriting business which operates in the Lloyd's and Company markets.

It was formed in 2014 through the integration of Kiln and Tokio Marine Europe.
Details
Date Published: 12/07/2018
Target: WNC Holding/remaining 51% share
Country: USA
Sector: Insurance
Type: Corporate acquisition
Financing:
Status: Closed
Vendor:
Buyer: Tokio Marine Kiln
Comment:
Terms of the deal were not disclosed

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