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Southlake Specialty Insurance Company Acquires Nevada General Insurance Company

Feb 06, 2024•over 1 year ago

Acquiring Company

Southlake Specialty

Acquired Company

Nevada General Insurance Company

WestlakeLas VegasFinanceInsuranceFinancial ServicesInsurance

Description

Southlake Specialty, part of Southlake Financial Holdings, has agreed to acquire Nevada General Insurance Company from Western National Mutual Insurance Company. This acquisition will allow the Southlake group to extend its admitted product insurance offering into additional states and strengthen its position in the P&C insurance space.

Company Information

Company

Southlake Specialty

Location

Westlake, Texas, United States

About

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.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed