Omaha National Group Inc., the tech-enabled provider of workers’ compensation insurance, has acquired Sutter Insurance Company, a California-domiciled insurer.
Sutter has been renamed to Omaha National Casualty Company, owned by Omaha National which also owns Omaha National Insurance Company, domiciled in Nebraska.
Reagan Pufall, Chief Executive Officer, said, “The acquisition of a carrier licensed in California, which is our largest market, is a major step forward in operating as a national full-stack carrier.
“Since inception, our plan has been to combine strong growth with exceptional financial results and that’s what we’ve achieved. We’re approaching $200 million in-force premium while at the same time our loss ratio, including allocated loss adjustment expenses, has been below 60% every year we’ve been in operation.”
Subsequently, Omaha National is now also implementing Oncore Underwriting, the company’s proprietary underwriting and policy management application.
Bryan Connolly, Omaha National’s Chief Operating Officer, commented, “One of our core strategic principles is that we design and develop our own operational software entirely in-house.
“When we implemented Oncore Claims in 2021 it generated remarkable improvements in our claims results, and we expect Oncore Underwriting to have a similarly profound impact. When Oncore CRM is implemented in 2025 all key functions within the company will be performed within a single proprietary application.”
Jim Hempel, Omaha National General Counsel, concluded, “We are now licensed to issue policies in 37 states and continue to expand toward nationwide coverage. We enjoy excellent relationships with our fronting partners but writing on our own paper immediately enhances our financial results and allows us to better serve our policyholders and broker partners.”
