NALICO General Agency Inc., a subsidiary of Waco, Texas-based NLASCO, announced the asset acquisition of Longhorn General Agency Inc. and Longhorn Insurance Services Inc., effective Nov. 1, 2006.
Founded in 1980, Longhorn General Agency is a specialty managing general agency focused on offering property and casualty insurance products to manufactured housing, homeowners and dwelling risks throughout Texas and the Southwest.
“This is a great acquisition for NLASCO,” commented Greg Vanek, president and chief operating officer of National Lloyds Insurance Company. “Longhorn General, with its stellar reputation and strong market relationships, will provide our organization a platform for growth into the manufactured housing point of sale markets in Texas and surrounding states. We are delighted to have Chuck Helton and his team join our organization,” Vanek added.
Longhorn General Agency and its current management and staff will continue to operate from their Euless, Texas, office. Philo Smith & Company served as the exclusive advisor to Longhorn General Agency Inc. in this transaction.
NALICO General Agency is a wholly owned subsidiary of NLASCO which owns American Summit Insurance Company and National Lloyds Insurance Company. American Summit is primarily engaged in the insuring of manufactured homes while National Lloyds specializes in low value dwellings and limited homeowners.
Source: NALICO General Agency
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