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Southlake Financial Group Expands Footprint with Acquisition of Nevada General Insurance Company

DALLAS–(BUSINESS WIRE)–Southlake Financial Group (“Southlake” or “Company”) a Texas-based, technology and data driven insurance platform that offers insurance infrastructure as a service, licensed across all 50 states, has announced the successful acquisition of Nevada General Insurance Company (“Nevada General”) from Western National Mutual Insurance Company. Nevada General is a property and casualty insurer licensed to operate across multiple Western U.S. states.

Southlake’s recent acquisition marks a significant step forward in its mission to expand and enhance its offerings. This strategic move allows Southlake to extend its admitted product portfolio into new states and provide business partners with access to multiple admitted carriers within the same state, greatly strengthening its market presence and service capabilities.

“We are thrilled to announce the successful acquisition of Nevada General Insurance Company,” said Yogesh Kumar, owner and CEO of Southlake. “This milestone is a key component of our growth strategy, enabling us to broaden our reach in the admitted market while reaffirming our commitment to delivering innovative solutions and outstanding financial security. We’re eager to grow and diversify our product offerings through this valuable addition.”

Following the acquisition, Nevada General Insurance Company will adopt Southlake’s AM Best Credit Rating of A- (Excellent) and Financial Size Category VIII ($100 million–$250 million). Southlake’s team, comprised of seasoned insurance industry experts, has deep experience in addressing the unique challenges faced by MGAs and Program Managers, particularly in their dealings with traditional insurers.

With over $800 million in premiums written, the integration of Nevada General Insurance Company is expected to fuel Southlake’s continued growth by expanding its reach to a broader market and diversifying its coverage solutions.

About Southlake Financial Group

Southlake Financial Group, a technology and data driven insurance platform providing insurance infrastructure as a service, stands as a leading provider of specialty insurance solutions. Through its subsidiaries —Southlake Specialty Insurance Company, Westlake Specialty Insurance Company, and Nevada General Insurance Company —Southlake offers a comprehensive range of products. Committed to excellence and innovation, Southlake consistently delivers exceptional value and service to its policyholders.

Source: Business Wire

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