2023 marks a half-century of industry leadership and innovation in the insurance industry
(PRUnderground) December 5th, 2023
State National Companies, the provider of market-leading lender and program services solutions in the United States, is celebrating its 50th anniversary this year.
Since its inception in 1973, State National Companies has seen tremendous growth and advancement, as the company has evolved within the insurance industry. Started by three brothers in Texas with a drive for innovation and a willingness to think outside the box, State National was launched as a stand-alone managing general agency. The Bedford, Texas-based entity expanded over the years to comprise a network of insurance companies broadly licensed throughout the U.S., leading the industry in specialty insurance solutions such as insurance fronting and collateral protection insurance.
Over the years, State National earned various accolades, including a world-class Net Promoter Score (NPS), as well as an AM Best rating of “A” (Excellent), which the company has maintained since its first year of eligibility in 1993. In 2014, State National made the leap from a privately held, family-led organization to a publicly traded company on the NASDAQ stock exchange. Today, State National is a division of Markel, the insurance division within Markel Group Inc. (NYSE: MKL), which acquired State National in 2017.
“When we consider inviting an entity to join the Markel family, we focus on those that are the best at what they do and that share our values,” said Jeremy Noble, President, Insurance, Markel. “Ever since our early conversations with the company’s leadership, we have known that State National was special. Their unique business model, talent and culture, and their high bar for operational excellence, impressed us from the start, and continue to do so today, as they raise the industry standard through their leading businesses. I have no doubt that State National will build on this foundation of excellence to achieve even greater things over the next 50 years.”
Today, State National continues to build on its half-century of success by introducing additional innovations and technological enhancements to further simplify and streamline insurance for its clients, policyholders and business partners. The company’s partnership-oriented engagement with stakeholders is distinctive. Its primary goal remains the same: to enable its partners to focus on operating their businesses seamlessly and with greater efficiency to achieve superior results.
“While we never stop leaning into the future with an eye toward innovation, this 50-year milestone is also the perfect time to pause, reflect on and appreciate all the great people who have contributed to our success over the past five decades, setting a high standard of excellence and driving continuous improvement,” said Matt Freeman, State National’s President and CEO. “Our leadership within our markets is a direct result of our extraordinary employees and dedicated, forward-thinking clients, who have been and continue to be the foundation of our longstanding culture of excellence.”
About State National Companies
State National Companies, Inc. is a leading specialty provider of property and casualty insurance services operating in two niche markets across the U.S. In its Lender Services segment, the company specializes in providing portfolio protection solutions that insure autos, mortgages, and other collateral for loans made by credit unions, banks, and specialty finance companies. In its Program Services segment, the company leverages its ”A” (Excellent) A.M. Best rating, expansive licenses, and trusted reputation to provide access to the U.S. property and casualty insurance market in exchange for ceding fees. State National Companies is a division of Markel, a Fortune 500 holding company for insurance, reinsurance, and investment operations. To learn more, please visit statenational.com and connect on LinkedIn.
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Original Press Release.
