Founded in 1939 as Motors Insurance Corporation, the GMAC Insurance Group is a property and casualty insurance company in the United States and was a subsidiary of Ally Financial. Ally has agreed to sell GMAC Insurance Group to Maiden Holdings pending regulatory approval.
GMAC Insurance is the only insurance company in the United States to come from within the automotive industry.
The GMAC Insurance umbrella constitute the 15th-largest underwriting company in the United States.
The Winston-Salem, North Carolina operation began after Security Life and Trust, started in 1920 in Greensboro, moved to Winston-Salem later in the year. Integon Corp. started a holding company in 1969 and began insuring high-risk drivers. General Motors bought Integon in October 1997 in a $778 million deal, and in 2000, Integon became GMAC Insurance Personal Lines. Security Life was sold to PennCorp, which was in turn sold to Southwestern Life Insurance in 2000. General Motors sold 51 percent of GMAC Financial Services to Cerberus FIM Investors LLC in 2006; at the time 1,179 worked in Winston-Salem. American Capital Acquisition Corp. bought GMAC Insurance Personal Lines in March 2010. As of 2011, 700 people worked in the 18-story building built in 1980 on Fifth Street in Winston-Salem and bought by Inland Western Retail Real Estate Trust Inc. as part of a $60 million deal in 2004.
The owners of National General Insurance are the Karfunkels. The holding company for National General Insurance Personal Lines is National General Holdings Corp. NASDAQ: NGHC
In March 2012, GMAC Insurance was added to the CoverHound comparison shopping platform.
Effective July 1, 2013, GMAC Insurance changed its name to National General Insurance. The Winston-Salem operation moved from downtown to Madison Park in June 2014.
National General Insurance is BBB accredited.
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