National Lloyds Insurance Company has announced that it has rebranded as National Summit Insurance Company following its acquisition by ReAlign Insurance Holdings, Inc. back in July 2020.
The rebranding also follows the conversion of National Lloyds from a Texas Lloyds Plan company into a capital stock insurance company.
The company, now called National Summit, is a Texas-domiciled specialty personal property insurance provider that operates through a network of over 4,000 agents and is licensed in 24 states.
In October 2020, ReAlign also formed Summit Specialty Insurance Company, a non-admitted insurance carrier domiciled in Nebraska.
Along with Texas-based American Summit Insurance Company, these three insurance carriers form part of the ReAlign Insurance Group.
“Our rebranding and capital stock conversion represent important milestones in our growth strategy,” stated Timothy McAuliffe, President of National Summit.
“With our strong balance sheet and the dedicated support of the team at ReAlign, we are well positioned to further elevate our value proposition through investments in our technology, people and products.”
Grant Lippincott, President of ReAlign, also commented: “Since acquiring these specialty personal property insurance companies six months ago, we have moved quickly to embark on the first phase of our long-term strategic plan to create a leading domestic program underwriting platform.”
“Building on National Summit’s 70-year history, growing network of agents and excellent track record, the rebranding will enhance our flexibility as we prudently pursue opportunities to expand our product lines and further strengthen our operating platform.”