Who owns National General Insurance? This question often arises among individuals and businesses seeking to understand the corporate structure behind one of the nation’s leading insurance providers. National General Insurance, also known as NGI, has a rich history and a complex ownership structure that has evolved over the years.
National General Insurance was originally founded in 1926 as General Insurance Company of America. Over the years, the company has undergone several changes in ownership and has been involved in various mergers and acquisitions. One of the most significant changes occurred in 2003 when American International Group (AIG) acquired a majority stake in the company. As a result, AIG became the majority shareholder of National General Insurance.
However, the ownership landscape changed once again in 2015 when American International Group decided to sell its majority stake in National General Insurance. This sale was part of AIG’s strategy to focus on its core insurance business and reduce its exposure to non-core assets. The sale was completed in 2016, and the new owners took control of the company.
The new owners of National General Insurance are a group of private equity firms, including Warburg Pincus, The Carlyle Group, and GIC, Singapore’s sovereign wealth fund. These private equity firms acquired a controlling interest in the company and have since been actively involved in its management and strategic direction. The private equity firms’ investment in National General Insurance has helped the company grow and expand its operations, both domestically and internationally.
Under the new ownership, National General Insurance has continued to focus on providing a wide range of insurance products and services to individuals, families, and businesses. The company offers auto, home, and life insurance, as well as specialty lines such as flood, earthquake, and identity theft protection. National General Insurance has also been recognized for its strong customer service and claims handling capabilities.
In conclusion, the ownership of National General Insurance has undergone significant changes over the years. From its inception as General Insurance Company of America to its current status as a private equity-owned company, National General Insurance has remained a leader in the insurance industry. With a strong ownership structure and a commitment to providing quality insurance products and services, National General Insurance continues to be a trusted choice for many customers across the United States.
