DALLAS--(BUSINESS WIRE)--National Lloyds Insurance Company (National Lloyds), a wholly-owned subsidiary of ReAlign Insurance Holdings, Inc. (ReAlign) today announced that it has rebranded as National Summit Insurance Company (National Summit). The rebranding follows the successful completion of all regulatory approvals leading to the conversion of National Lloyds from a Texas Lloyds Plan company into a capital stock insurance company. The new brand identity will be incorporated across all facets of the specialty insurer’s operations in the months ahead.
National Summit, a specialty personal property insurance provider, operates through a network of over 4,000 agents and is licensed in 24 states. ReAlign acquired National Summit and American Summit Insurance Company, both of which are domiciled in Texas, in July 2020. In October 2020, ReAlign also formed Summit Specialty Insurance Company, a non-admitted insurance carrier domiciled in Nebraska. The three insurance carriers are 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, 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.”
About National Summit Insurance Company
Founded in 1948 and headquartered in Dallas, Texas, National Summit Insurance Company is an A.M. Best A rated financial size category VII carrier offering property/casualty insurance for homeowners, dwelling and manufactured/mobile homes through a network of over 4,000 independent agents across the nation. National Summit Insurance Company is a wholly owned subsidiary of ReAlign Insurance Holdings, Inc.
About ReAlign Insurance Holdings, Inc.
ReAlign is a new insurance holding company formed by ReAlign Capital Strategies, LLC and private investors to acquire and own broadly licensed admitted and non-admitted insurance companies focused exclusively on the specialty program insurance marketplace in the U.S. ReAlign includes specialty personal property insurance companies National Summit Insurance Company and American Summit Insurance Company, as well as E&S insurance carrier Summit Specialty Insurance Company.