National General Holdings Corporation (NGHC) completed the purchase of Standard Property & Casualty Insurance Company.
National General president and CEO Barry Karfunkel stated: “We are pleased to announce the closing of this transaction, which further expands our packaged auto and home offerings into Illinois and Indiana.
"We are excited to welcome the Standard Mutual team to National General and support the profitable growth of the business by leveraging our policy administration and claims systems.”
Based in Springfield, Illinois, Standard Mutual Insurance Company began operations in 1921 and predominately underwrites private passenger automobile and homeowners lines in Illinois and Indiana. SMIC wrote approximately $49m of direct written premium in 2015.
SMIC distributes products through approximately 250 independent agents.