Nationwide to acquire Surety and Fidelity bond renewal rights from Main Street America Insurance

Nationwide to acquire Surety and Fidelity bond renewal rights from Main Street America Insurance

COLUMBUS, Ohio - Nationwide, a Fortune 100 company and one of the largest providers of insurance and financial services products in the U.S., announced today that it has entered into an agreement to acquire the renewal rights for Surety and Fidelity bonds issued by Main Street America Insurance (MSA), a specialized unit within American Family Insurance. The two companies expect to close the agreement by the end of the first quarter, subject to customary closing conditions.

"Nationwide's strength and stability have always been at the core of who we are. This acquisition allows us to build on that foundation by enhancing our Surety and Fidelity offerings and delivering even more value to our agents and customers," said Nationwide CEO Kirt Walker. "We're excited to welcome the customers and employees of Main Street America into the Nationwide family and continue our shared commitment to service and reliability."

The acquisition expands the company's commitment to businesses and contractors who rely on a strong risk management partner to serve their customers. Nationwide's financial strength and long-standing stability provide agents and policyholders with confidence in the company's ability to deliver on its promises. And, the addition of Main Street America's capabilities and employees enhances Nationwide's Surety and Fidelity offerings, creating new opportunities for growth and innovation.

"Main Street America has a strong reputation for partnering with agents to deliver pragmatic risk management solutions, which aligns with Nationwide's approach," said Candy Embray, MSA President. "Together, we are working to ensure a seamless transition for our valued agency partners."

Russ Johnston, President of Commercial Lines, Excess & Surplus, Specialty at Nationwide added, "Our surety business continues to be an area of strategic growth for us. Agents can expect the same level of service and stability they've come to trust, now backed by Nationwide's scale, resources and financial strength. Together, we're creating a stronger, more comprehensive offering for the marketplace."

As privately held companies, Nationwide and MSA are not disclosing terms of the deal.