December 2, 2010
Western National Completes Purchase of Alaska-Based Insurance Company
(Minneapolis, Minn.) Western National Insurance Group of Edina, Minn. today announced that it has completed the purchase of 100 percent of the stock of Anchorage, Alaska-based Umialik Insurance Company. This closing follows due diligence and the receipt of approval by Umialik shareholders, Western National’s board of directors, and regulatory authorities.
Umialik Insurance Company will continue to operate locally in Alaska as a separate entity writing personal and commercial lines, under the ultimate management and control of Western National and with its full financial support.
“With the sale complete, we can now move forward in working with Umialik’s fine staff and independent agency partners to grow its presence in the Northwest,” said Stuart Henderson, president and chief executive officer of Western National. “We’re excited for the improved geographic spread-of-risk and profit opportunities this partnership brings, and for the resulting enhanced stability that benefits every policyholder in our expanded group of companies.”
Western National Insurance Group, headquartered in Edina, Minn., is a super-regional group of seven active companies serving the property-and-casualty insurance needs of individuals, families, and businesses. The group’s products are sold exclusively through professional independent agents in 12 states in the Midwestern, Northwestern, and Southwestern U.S.
For further information, please contact:
Mary S. Manley
SVP Corporate Affairs & Administration