NGL divests Settlers Life, positions for stronger Preneed business

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This article from the Insurance News Net informs readers that preneed insurance company National Guardian Life (NGL), based in Madison, Wisconsin, has sold its interest in Settlers Life Insurance Company to Everly Holdings, LLC.   The sale consists of approximately 225,000 policies that are geographically disbursed throughout the United States. Those policies included in the agreement include final expense and single annuity products.

According to Knut Olson, President and CEO of NGL, this move strengthens NGL’s ability in the Preneed funeral industry.  Here’s what he said, “This sale resulted in NGL reaching historical levels of capital, giving the company unprecedented financial strength. The transaction further positions NGL to grow in the Preneed insurance industry and will allow us to enhance our digital capabilities to serve funeral homes and their customers in new ways.”

According to National Guardian Life’s website:

“Since 1909, National Guardian Life Insurance Company (NGL) has been one of America’s most successful and highly rated independent life insurance companies. NGL specializes in a suite of innovative products for life’s journey, giving people the financial stability, careful guidance and peace of mind to lead a life filled with confidence, dignity and grace.

Licensed to do business in 49 states and the District of Columbia, NGL is rated A (Excellent) from AM Best, the world’s oldest and most authoritative insurance rating information source. The A rating further attests to our financial strength and ability to meet our policyholder obligations.

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