Based in California, Sutter Insurance Company has been rebranded as Omaha National Casualty Company following the acquisition.
This strategic move bolsters Omaha National’s position in the market, further expanding its reach and capabilities. Notably, Omaha National already owns Omaha National Insurance Company, headquartered in Nebraska.
In addition to the acquisition, Omaha National has announced the implementation of Oncore Underwriting, its proprietary underwriting and policy management application. This technology is set to enhance the company’s operational efficiency and customer service, providing clients with streamlined processes and innovative solutions.
Omaha National CEO Reagan Pufall, said: “The acquisition of a carrier licensed in California, which is our largest market, is a major step forward in operating as a national full-stack carrier. Since inception, our plan has been to combine strong growth with exceptional financial results and that’s what we’ve achieved. We’re approaching $200 million in-force premium while at the same time our loss ratio, including allocated loss adjustment expenses, has been below 60% every year we’ve been in operation.”
Omaha National General Counsel Jim Hempel also comments, saying: “We are now licensed to issue policies in 37 states and continue to expand toward nationwide coverage.”
He added: “We enjoy excellent relationships with our fronting partners but writing on our own paper immediately enhances our financial results and allows us to better serve our policyholders and broker partners.”
