NI Holdings acquires Westminster American Insurance Company

NI Holdings | January 06, 2020

NI Holdings, the stock holding company of Nodak Insurance Company, has announced that it has completed its acquisition of Westminster American Insurance Company from private shareholders. Under the terms of the stock purchase agreement Westminster shareholders will receive $40 million in cash. Audited financial statements on a GAAP basis are not available for Westminster, since it is a non-public company. A release said that the acquisition of Westminster diversifies NI Holdings’ portfolio, thanks to the addition of the commercial multi-peril business. Based in Owings Mills, MD, Westminster underwrites commercial insurance in the states of Delaware, Georgia, Maryland, New Jersey, North Carolina, Pennsylvania, South Carolina, Virginia, and West Virginia, as well as the District of Columbia. The company has a network of independent agents.

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Learn how to tell the Insurance Digital Transformation story, enabling you to engage prospects on current industry challenges. Explore how companies can re-imagine their business models. Learn what digitalization means in the Insurance industry.

Spotlight

Learn how to tell the Insurance Digital Transformation story, enabling you to engage prospects on current industry challenges. Explore how companies can re-imagine their business models. Learn what digitalization means in the Insurance industry.

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CORE INSURANCE

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vipHomeLink | January 20, 2022

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INSURANCE TECHNOLOGY

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P&C | May 30, 2022

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