NGL transfers student and special risk division administration to Wellfleet

National Guardian Life Insurance Company (NGL), a Madison-based mutual life insurance company has agreed to terms with Wellfleet to transfer through renewals its student and special risk division. A majority of NGL’s student and special risk division is processed through Commercial Travelers Life Insurance Company, a NGL wholly-owned subsidiary located in Utica, N.Y. 

Wellfleet, an insurance provider and a Berkshire Hathaway company, immediately assumes responsibility for administering NGL’s special risk policies and collegiate accident and health insurance, which insures more than 26,000 students on approximately 100 campuses across the United States. Wellfleet will maintain the office in Utica, N.Y. employing more than 30 insurance professionals.

“Entering into this agreement with Wellfleet will allow us to streamline product offerings and give our talented employees the ability to dedicate the resources needed for growth in these product lines. NGL is evolving as it looks toward the future and focuses on the best interests of policyholders, agents, partners and our employees,” said Knut A. Olson, President & CEO of NGL.

Wellfleet has specialized in student and special risk coverage since 1993. Wellfleet is committed to a smooth transition for employees, policyholders and campuses.

“Our priorities are to honor the commitments NGL extended to its customers, and to deliver quality service and customer-centric solutions to clients, members and distribution partners,” said Andrew DiGiorgio, President & CEO of Wellfleet.

Completion of the transaction is subject to various conditions, including the receipt of regulatory approval, and is expected to close in the third quarter of 2019.

About NGL

Since 1910, National Guardian Life Insurance Company (NGL), a mutual insurance company, has been located in Madison, Wis. Licensed to do business in 49 states and the District of Columbia, NGL markets preneed and individual life and annuities, as well as group markets products. Information about NGL can be found at www.nglic.com; Facebook: Facebook.com/NGLIC and LinkedIn: https://www.linkedin.com/company/national-guardian-life-insurance-company.

About Wellfleet
Wellfleet, a Berkshire Hathaway company, is a leading provider of health and accident insurance products, offering protection through every stage of life – from grade school to the workplace. Founded in 1993, Wellfleet is renowned for delivering customer-centric products with quality service and uncompromising ethics. From its headquarters in Springfield, Mass., Wellfleet offers products, services and solutions under four distinct brand lines: Wellfleet Student (formerly CHP Student Health), Wellfleet Workplace, Wellfleet Special Risk, and Wellfleet Rx. For more details, visit wellfleetinsurance.com.   

Grace Global Capital LLC is acting as a financial advisor to National Guardian Life Insurance Company. National Guardian Life Insurance Company is not affiliated with The Guardian Life Insurance Company of America a/k/a The Guardian or Guardian Life.

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PRCT82019