Affordable Residential Communities Inc. of Englewood, Colo., closed its previously announced acquisition of Waco, Texas-based NLASCO Inc., a privately held property and casualty insurance holding company, and reported the promotion of Greg Vanek, NLASCO’s president and chief operating officer, to CEO of NLASCO.
NLASCO specializes in providing fire and homeowners insurance to low value dwellings and manufactured homes primarily in Texas and other areas of the south, southeastern and southwestern U.S. Through its two insurance subsidiaries, National Lloyds Insurance Co. and American Summit Insurance Co., NLASCO underwrites its insurance policies through approximately 6,600 independent agents in 27 states.
NLASCO, with its current management team in place, will remain in Waco and operate as an independent wholly owned subsidiary of ARC.
C. Clifton Robinson, NLASCO’s current chairman and CEO, will serve as non-executive chairman of NLASCO’s board of directors. Additionally, NLASCO Vice Chairman Gordon B. Robinson will serve in an advisory role to NLASCO for two years.
Prior to joining NLASCO, Vanek worked in the mobile home manufacturing industry and in the underwriting department of the Farm Bureau Insurance Co. Vanek came to NLASCO in 1986 and was promoted to his current position in 2001.
Affordable Residential Communities, which specializes in manufactured home communities, currently owns and operates approximately 57,264 homesites in 275 communities in 23 states.
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