Tokio Marine Kiln Completes Acquisition of WNC Holdings
09 July 2018
Tokio Marine Kiln today announced that it has acquired the remaining 51 percent share in WNC Holdings, a market-leading provider of specialty insurance products and services for U.S.-based clients.
WNC, a managing general underwriter, provides a range of specialty risk management solutions, including Private Flood, Builders Risk and Lender-Placed Insurance products. It expects approximately $200 million of net written premium in 2018. TMK has worked in partnership with WNC since 1986 and acquired a 49 percent share of the company in June 2011. WNC will retain its existing brand as it continues to drive growth in its Private Flood and Construction Divisions, and launches its HomeownerSelect® product for mortgage servicers.
“We are excited about this partnership with TMK, which underpins our continued expansion and development," said Patrick Blandford, Chief Executive Officer of WNC. "With TMK’s support, we have broadened our business mix and look forward to offering more product lines to our customers as we expand. To reflect this new phase, we have also refreshed our brand identity and launched a new website to give clients easy access to our people, products and services.”
“We are committed to building and maintaining long-term, profitable partnerships with high quality businesses in strategically significant territories and we are able to do so thanks to our substantial financial strength," said Charles Franks, Group CEO of Tokio Marine Kiln. "Through this investment, we will continue to capitalize on WNC’s high quality underwriting capabilities, strong management team, established brand and proven track record of generating profits, as we have done with them over the past 30 years.”
About WNC Insurance Services Inc.
As a leading property and casualty underwriting agency, WNC Insurance Services offers a broad suite of tailored specialty risk management solutions, including private flood, construction and lender-placed products. WNC includes Highland Insurance Solutions and Precise Adjustments, a wholly owned subsidiary that provides industry-leading claims capabilities. WNC offerings also include HomeownerSelect®, an innovative lender-placed insurance alternative, and a portfolio of voluntary coverages offered through our Direct Marketing Group (DMG).
Founded in 1962, WNC is a wholly owned company of Tokio Marine Kiln, one of the largest carriers in the Lloyd’s of London insurance market and a member of the Tokio Marine Group. WNC has corporate offices in South Pasadena, Calif., and Chicago, Ill., and operating centers in Dallas, Texas, Naperville, Ill., and Miami, Fla. For more information, visit our website at www.wncinsuranceservices.com.
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