Wellfleet, a Berkshire Hathway Company, has acquired National Guardian Life Insurance Company’s (NGL) Student and Special Risk business for an undisclosed amount.
The acquired business insures more than 26,000 students on nearly 100 campuses across the US.
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NGL Student and Special Risk business
Wellfleet said it straightaway start administrating NGL’s special risk policies and collegiate accident and health insurance.
It will also take over the operations of Utica, New York office of NGL, which employs over 30 people.
NGl CEO and president Knut Olson said: “We are pleased that we have entered into this agreement with Wellfleet, one of the nation’s leading providers of health and accident insurance products to the higher education market.
“This transition provides our customers the ability to renew their business with a highly respected insurer who will deliver quality service. This transaction allows NGL to focus on our other lines of business.”
Wellfleet president and CEO Andrew DiGiorgio said: “Our priorities are to honour the commitments NGL extended to its customers, and to deliver quality service and customer-centric solutions to clients, members and distribution partners.”
The completion of the acquisition is subject to regulatory approvals and is expected to complete in the third quarter of this year.
