Nationwide Secures Surety and Fidelity Renewal Rights from Main Street America
Columbus, Ohio-based Nationwide announced on February 5 that it has entered into an agreement to acquire the renewal rights for surety and fidelity bonds issued by Main Street America Insurance, a subsidiary of American Family Insurance.
While the terms of the deal remain undisclosed, Nationwide emphasized that this acquisition enhances its commitment to businesses and contractors. The integration of Main Street America’s capabilities and workforce is expected to create new avenues for growth and innovation.
The two companies anticipate finalizing the agreement by the end of the first quarter, pending customary closing conditions.
“Nationwide’s strength and stability have always been at the core of who we are. This acquisition allows us to build on that foundation by enhancing our Surety and Fidelity offerings and delivering even more value to our agents and customers,” stated Nationwide CEO Kirt Walker. He also underscored the companies’ “shared commitment to service and reliability.”
Candy Embray, president of Main Street America, remarked, “Main Street America has a strong reputation for partnering with agents to deliver pragmatic risk management solutions, which aligns with Nationwide’s approach. Together, we are working to ensure a seamless transition for our valued agency partners.”
Russ Johnston, president of commercial lines, Excess & Surplus, Specialty at Nationwide, added, “Our surety business continues to be an area of strategic growth for us. Agents can expect the same level of service and stability they’ve come to trust, now backed by Nationwide’s scale, resources, and financial strength.”
Source: Nationwide
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Columbus, Ohio-based Nationwide announced on February 5 that it has entered into an agreement to acquire the renewal rights for surety and fidelity bonds issued by Main Street America Insurance, a subsidiary of American Family Insurance.
While the terms of the deal remain undisclosed, Nationwide emphasized that this acquisition enhances its commitment to businesses and contractors. The integration of Main Street America’s capabilities and workforce is expected to create new avenues for growth and innovation.
The two companies anticipate finalizing the agreement by the end of the first quarter, pending customary closing conditions.
“Nationwide’s strength and stability have always been at the core of who we are. This acquisition allows us to build on that foundation by enhancing our Surety and Fidelity offerings and delivering even more value to our agents and customers,” stated Nationwide CEO Kirt Walker. He also underscored the companies’ “shared commitment to service and reliability.”
Candy Embray, president of Main Street America, remarked, “Main Street America has a strong reputation for partnering with agents to deliver pragmatic risk management solutions, which aligns with Nationwide’s approach. Together, we are working to ensure a seamless transition for our valued agency partners.”
Russ Johnston, president of commercial lines, Excess & Surplus, Specialty at Nationwide, added, “Our surety business continues to be an area of strategic growth for us. Agents can expect the same level of service and stability they’ve come to trust, now backed by Nationwide’s scale, resources, and financial strength.”
Source: Nationwide
Topics
Mergers & Acquisitions
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