Last Updated: October 28, 2020
Acquisition of Unigard Insurance Company by Sentry Insurance a Mutual Company
On July 16, 2020, the Wisconsin Office of the Commissioner of Insurance received a Form A from Sentry Insurance a Mutual Company dated July 10, 2020, for the acquisition of Unigard Insurance Company pursuant to a Stock Purchase Agreement with QBE Regional Companies (N.A.), Inc. dated June 26, 2020. QBE Regional Companies (N.A.), Inc., and Unigard Insurance Company are indirect, wholly owned subsidiaries of their ultimate controlling person, QBE Insurance Group Limited, the shares of which are publicly traded on the Australian Securities Exchange. At the closing, Unigard Insurance Company and QBE Insurance Corporation will enter into a Loss Portfolio Transfer and Quota Share Reinsurance Agreement and an Administrative Services Agreement, the effect of which shall be for QBE Insurance Corporation to assume and administer all policy liabilities of the company and related inuring reinsurance agreements and third party administrator contracts. Through these arrangements, Unigard Insurance Company would be rendered for practical purposes, insofar as is possible, a clean shell at the time ownership would be transferred to Sentry Insurance a Mutual Company.
Under Sentry's ownership, the plans are for the company to write personal lines automobile, motorcycle and powersports insurance products through agents and on a direct basis.
Form A and Related Items Filed on July 16, 2020:
Proposed and Final Decision