Nationwide, one of many largest suppliers of insurance coverage and monetary providers merchandise within the U.S., introduced at this time that it has acquired E-Threat Companies, a privately-held, main program supervisor, extremely specialised in a distinguished portfolio of administration traces merchandise.
The E-Threat platform and options will improve Nationwide's market-leading extra & surplus traces enterprise.
Nationwide's give attention to rising in administration traces and rising within the packages area enhances E-Threat's focus because the organizations associate to offer value-added options to small and medium-sized enterprise homeowners.
Partnering with E-Threat gives Nationwide with thrilling new alternatives for innovation and development, whereas rising each organizations' capability to serve clients and distribution companions. This acquisition enhances Nationwide's distribution relationships and reveals the corporate's dedication to rising its worthwhile business administration traces e-book by way of E-Threat's wholesale community.
"We're excited to kick off the brand new yr with a partnership that can additional improve Nationwide's capability to offer wholesale distribution companions with deeper safety merchandise and extra worth as they search to construct their enterprise," mentioned Mark Berven president and chief working officer of Nationwide's property & casualty enterprise. "Program enterprise, administered by way of program managers, is a big and rising portion of the business insurance coverage market. Over the long run, we imagine this acquisition will permit us to carry a fair better place on this section by making it simpler for distribution companions to do enterprise with us."
E-Threat, based mostly in Flanders, NJ, is a number one program supervisor specializing in administration traces merchandise, with a distinguished portfolio of merchandise and shoppers, in addition to techniques aligned to make it straightforward for wholesaler distribution companions to promote. It additionally has excessive model recognition, trusted wholesaler relationships and unparalleled service and know-how supply, offering ease, velocity, effectivity, and experience.
"For the previous ten years, Nationwide has been an outstanding associate, supporter and catalyst for the exponential development of our firm," mentioned Paul Tomasi, president of E-Threat Companies, LLC. "This transaction illustrates Nationwide's stage of dedication to our wholesale dealer distribution companions and the tens of hundreds of present and future policyholders insured by way of the E-Threat program. We're excited concerning the super alternatives and potentialities for our firm, our clients and our staff as we be a part of the Nationwide household."
Phrases of the acquisition settlement between Nationwide and E-Threat Companies, LLC, are usually not being disclosed. The transaction closed on January 1, 2019.
Mayer Brown served because the authorized advisor for Nationwide in reference to the transaction.
About Nationwide
Nationwide, a Fortune 100 firm based mostly in Columbus, Ohio, is likely one of the largest and strongest diversified insurance coverage and monetary providers organizations in the USA. Nationwide is rated A+ by each A.M. Finest and Customary & Poor's. An trade chief in driving customer-focused innovation, Nationwide gives a full vary of insurance coverage and monetary providers merchandise together with auto, enterprise, owners, farm and life insurance coverage; private and non-private sector retirement plans, annuities and mutual funds; extra & surplus, specialty and surety; pet, bike and boat insurance coverage. For extra data, go to www.nationwide.com. Observe us on Fb and Twitter.
About E-Threat Companies, LLC
E-Threat Companies, LLC operates as an underwriting administration facility and common company for specialty traces of insurance coverage distributed by way of a devoted community of wholesale brokers. The corporate, by way of its Enterprise and Administration (BAM®) bundle insurance coverage product provides varied kinds of administration legal responsibility protection for privately held and non-profit entities, together with administrators and officers, employment practices legal responsibility, fiduciary legal responsibility, business crime, miscellaneous errors and omissions, and cyber and know-how legal responsibility coverages. For the reason that unique founding in 1998, E-Threat has not solely specialised in administration legal responsibility, however has additionally developed innovative applied sciences, platforms and processes to streamline each part of the insurance coverage course of from on-line software and ranking capabilities to API integration to advanced information administration. E-Threat is positioned in Flanders, NJ. To be taught extra, please go to www.eriskservices.com.
Nationwide, Nationwide is in your facet and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance coverage Firm.
Contact:
Eric Hardgrove
(614) 249-6349
[email protected]
View unique content material to obtain multimedia:http://www.prnewswire.com/news-releases/nationwide-announces-acquisition-that-will-enhance-wholesale-distribution-capabilities-300772610.html
SOURCE Nationwide