Add-on Acquisition • Insurance

NI Holdings Acquires Westminster American Insurance Co.

On January 3, 2020, NI Holdings acquired insurance company Westminster American Insurance Co.

Acquisition Context
  • This is NI Holdings’ 2nd transaction in the Insurance sector.
  • This is NI Holdings’ 2nd transaction in the United States.
  • This is NI Holdings’ 1st transaction in Maryland.

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M&A Deal Summary

Date January 3, 2020
Target Westminster American Insurance Co.
Sector Insurance
Buyer(s) NI Holdings
Deal Type Add-on Acquisition
Advisor(s) Venable (Legal)

Target Company

Westminster American Insurance Co.

Owings Mills, Maryland, United States
Westminster American Insurance Co. is a provider of insurance services. Westminster American Insurance is based in Owings Mills, Maryland.
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Buyer Overview 1

Buyer

NI Holdings

Fargo, North Dakota, United States

Category Company
Founded 1946
Sector Insurance
Employees219
Revenue 325M USD (2024)
DESCRIPTION

NI Holdings is an insurance holding company providing insurance services. NI Holdings was founded in 1946 and is based in Fargo, North Dakota.


Deal Context for Buyer #
Overall 2 of 2
Sector: Insurance 2 of 2
Type: Add-on Acquisition 2 of 2
State: Maryland 1 of 1
Country: United States 2 of 2
Year: 2020 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-31 Direct Auto Insurance Co.

Chicago, Illinois, United States

Direct Auto Insurance Co. is an underwrites specialty automobile insurance in the state of Illinois through independent agents. Direct Auto Insurance is based in Chicago, Illinois.

Buy -