NI Holdings, Inc. Completes Acquisition of Westminster American Insurance Company
NI Holdings, Inc. (NODK)
US:NASDAQ Investor Relations:
niholdingsinc.com
Company Research
Source: GlobeNewswire
FARGO, N.D., Jan. 03, 2020 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) today announced that it has completed its previously announced acquisition of Westminster American Insurance Company (“Westminster”) from private shareholders on January 1, 2020. The acquisition of Westminster further diversifies NI Holdings’ portfolio of products geographically, and by line as additional commercial multi-peril business is introduced into the business mix. Westminster is headquartered in Owings Mills, Maryland and underwrites multi-peril commercial insurance in the states of Delaware, Georgia, Maryland, New Jersey, North Carolina, Pennsylvania, South Carolina, Virginia, and West Virginia, and the District of Columbia through independent agents. John Scott, Jr., the president of Westminster, will continue to manage the Westminster insurance operations along with the current staff and management team. In connection with his continued employment, NI Holdings agreed to pay Mr. Scott a r
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