National Guardian Life Insurance Company and Insurance Capital Group launch partnership
A new strategic partnership has been launched by National Guardian Life Insurance Company (NGL), a Madison-based life insurer, and New York-based Insurance Capital Group (ICG), a strategic investor in the mutual insurance industry. The companies have created a national dental and vision insurance business, BrightBenefits, which will be led by insurance industry veteran Danny Bentley.
The business has been jointly developed and launched by NGL and ICG, through its Federal Life Group. BrightBenefits policies will be issued by Commercial Travelers Insurance Company, an AM Best A- (Excellent) rated affiliate of NGL, in which Federal Life will make a significant equity investment, subject to receiving regulatory approval.
“This new strategic partnership with ICG allows NGL to diversify its investments into new markets without losing its focus on being a leading provider of preneed insurance for customers nationwide. ICG brings exceptional talent and additional capital to this partnership that will allow growth in new and exciting ways,” said Knut Olson, NGL president & CEO.
Matt Popoli, founder and CEO of Insurance Capital Group and director of Federal Life, added: “We are honoured to have been selected by NGL as its strategic partner and we are extremely excited about the launch of BrightBenefits and the broader strategic partnership with NGL. We are confident that BrightBenefits, led by its talented management team, will develop into one of the nation’s leading vision and dental platforms,”
BrightBenefits will offer both employer and employee paid dental and vision insurance and will look to expand the product offerings as the company grows.
“Our goal for BrightBenefits is to be a trusted partner and leading provider of employee benefits products and services that help employers and their employees protect their families,” said Danny Bentley, president of BrightBenefits.
Bentley most recently served as president of Davis Vision, the nation’s third largest vision insurer with approximately 22 million members. He began his career at Protective Life where he created and pioneered the voluntary, ancillary benefits products industry by introducing the nation’s first voluntary dental product. He later joined AG Edwards Investment Banking, serving as a managing director and head of the firm’s insurance practice before rejoining the insurance industry.
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