National General Insurance
| Company type | Subsidiary |
|---|---|
| Industry | Insurance |
| Founded | 1920 |
| Headquarters | Winston-Salem, North Carolina , United States |
Key people | Barry Karfunkel (president) |
| Products | Auto insurance, RV insurance, Home insurance, Small business auto insurance, Motor club services, Motorcycle insurance, Mexico insurance, Asset protection for lenders, Collector/classic car insurance, Health insurance, Benefits solutions |
| Parent | Allstate (since January 2021) |
National General Insurance, previously known as GMAC Insurance Group, is a property and casualty insurer headquartered in Winston-Salem, North Carolina. Established in 1920, it holds the distinction of being the sole U.S. insurance firm with origins rooted in the automotive industry.
National General Holdings Corp. serves as the parent company for National General Insurance Personal Lines. As of August 2016, ownership was controlled by Barry Karfunkel and his family, with Barry stepping into the role of president following the passing of Michael Karfunkel.
History
The creation of National General Insurance resulted from merging two entities: Integon, a life insurance company founded in 1920 in Winston-Salem, North Carolina, and Motors Insurance Company, which was launched in 1925 by General Motors to insure GM vehicles financed through GMAC (currently known as Ally Financial).
Starting in 1969, Integon began providing coverage for high-risk drivers and grew further by acquiring other companies, notably Bankers and Shippers Insurance Company in 1994. After undergoing ownership transitions and facing difficulties during the mid-1990s, Integon was purchased by GMAC in 1997 for $778 million. Subsequently, Integon was renamed GMAC Insurance Personal Lines in 2000.
In 2006, Cerberus Capital Management acquired a majority interest in GMAC from General Motors; at that time, the Winston-Salem facility employed approximately 1,179 people. In 2009, American Capital Acquisition Corp., affiliated with American Capital Partners LLC, bought GMAC’s U.S. consumer property-casualty insurance operations.
On July 1, 2013, GMAC Insurance underwent rebranding to become National General Insurance. The company’s Winston-Salem office moved to Madison Park in June 2014.
In July 2020, Allstate announced its $4 billion purchase of National General, a transaction completed in January 2021.
Products
- Auto Insurance
- RV Insurance
- Home Insurance
- Small Business Auto Insurance
- National General Motor Club
- Motorcycle Insurance
- Mexico Insurance
- Asset Protection for Lenders
- Collector/Classic Car Insurance
- Health Insurance
- Benefits Solutions