“This new strategic partnership with ICG allows NGL to diversify its investments into new markets without losing sight of its leadership role in providing needs assurance to clients across the country. ICG brings exceptional talent and additional capital to this partnership, which will enable new and exciting growth,” said Knut A. Olson, President and Chief Executive Officer of NGL. “We are pleased to acquire Settlers Life and believe it will enable Everly to fulfill its mission of providing direct, digital access to high-quality, affordable life insurance products,” said Doug Wolff, President of Everly Holdings, LLC. “It has been a pleasure to work with Knut Olson and the entire NGL management team to complete this transaction. The National Guardian Life Insurance Company (NGL) was founded in 1909 as The Wisconsin State Life Insurance Company as a public corporation in Madison, Wisconsin. In August 1910, the company changed its name to Guardian Life Insurance Company and a month later, the first life insurance policy – policy #1 for a nominal amount of $5,000 – was sold. [3] Federal Life Group, Inc. (OTCMKTS: FLFG) is the parent company of Federal Life Insurance Company (“FLIC”), an independent provider of high-quality life insurance and annuity products founded in 1899. FLIC is headquartered in Riverwoods, Illinois, a suburb about thirty miles north of Chicago. FLIC has a long history of financial strength and stability, serving more than 28,000 policyholders.
For more information, see www.federallife.com. In 2002, NGL entered into a joint venture with Starmount Life Insurance Company to market its group dental and group vision products. NGL has also acquired 35,900 life insurance policies with approximately $115 million in policy reserves from Trustmark Insurance Company and begins administering 5,100 annuity contracts. In 2003, Protected Home Mutual Life Insurance Company (Sharon, PA) merged with and into NGL, contributing 65,000 policies and assets valued at $210 million. In 2004, NGL achieved a record $120 million in life insurance sales, measured by premium. Later that year, NGL acquired 80,000 life insurance policies with $47 million in policy reserves from Central American Life Insurance Company (West Monroe, LA), 20,000 policies with $10 million in reserves from Ashley Life Insurance Company (Hamburg, AR) and 8,100 paid life insurance policies from Western Catholic Union (Quincy, IL) with nearly $20 million in policy reserves. Since 1910, the National Guardian Life Insurance Company (NGL) has consistently been ranked as one of the most successful independent life insurance companies in the United States. We adhere to the highest standards of quality and integrity and continually demonstrate our commitment to our policyholders, their families and the communities in which they work and live. We offer niche life insurance products.
In 1936, NGL became a mutual company by decision of the board of directors and a few years later, in 1948, the company reached its first insurance force of $100 million. In mid-1995, NGL entered into an alliance with Indianapolis Life Insurance Company to market individual term life insurance products and organized NGL Securities Services LLC as a subsidiary of NGL Financial Services, Inc. Allnation and Kentucky Home Capital Corporation merged with NGL in early 2000, bringing NGL`s regular insurance to over $4 billion. That year, however, NGL also exited the securities market and sold NGL Securities Services LLC to World Securities, Inc. Everly was founded by industry veterans who are passionate about the important role life insurance can play in our lives. Everly`s vision is to modernize the industry by offering a next-generation solution that leverages all the benefits life insurance can offer to enable people to live with confidence. Bentley began his career at Protective Life, where he created the voluntary benefits industry and pioneered it by introducing the nation`s first voluntary dental product. He then joined A.G.
Edwards Investment Banking, where he served as Managing Director and Head of the firm`s insurance practice before returning to the insurance industry. “NGL has lived in Madison for over 100 years. Located downtown, we are minutes from Capital Square, anchoring an end to the world-class University of Wisconsin-Madison. NGL has become a nationally known company. We have maintained our values in the Midwest over the years and reflect the best of Madison: integrity, caring for our customers, offering great merchandise at a fair price, and a commitment to caring for and supporting our community. The National Guardian Life Insurance Company (NGL) was founded in 1909 and is an insurance company headquartered in Madison, Wisconsin. NGL is licensed for businesses in 49 states and the District of Columbia and markets individual life and annuity insurance products, as well as group products. For more information on NGL, see www.nglic.com; Facebook: Facebook.com/NGLIC and LinkedIn: www.linkedin.com/company/national-guardian-life-insurance-company. In mid-2009, NGL acquired 5,700 policies with $20 million in policy reserves from Citizens Security Life Insurance Company. In 2010, NGL entered into a co-insurance transaction with Citizens Security Life Insurance Company (Louisville, KY). In addition to reserves of $87 million, this acquisition includes 80,000 policies. In mid-2012, NGL partnered with Commercial Travelers Mutual Insurance Company (Utica, NY) to give NGL access to sales in New York State.
In mid-2015, Standard Security Life Insurance Company of New York was reinsured. [4] NGL made another acquisition in 2015: the July acquisition of Madison National Life Insurance Company resulted in 280,000 policies for NGL valued at $260 million in reserves. [5] NGL consists of National Guardian Life and Settlers Life, based in Bristol, Virginia. For over 100 years, NGL has underwritten many types of insurance policies that we still serve today. In the late 1990s, NGL realigned its business model to focus on a few niches: initial demand, terminal costs, and collective accident and healthcare products.
