Company Insolvencies

Northwestern National Insurance Company of Milwaukee Wisconsin | WI

Company Overview

Northwestern National Insurance Company (NNIC) is a P&C company that wrote non-cancellable comprehensive health insurance in the 1960’s and 1970’s. In 1975, the company ceased writing new A& H business and in 1986, NNIC was placed into a run-off mode by an agreement between management and the Wisconsin Office of the Commissioner of Insurance (OCI). As late as 1992, NNIC was licensed in all states and DC, except Hawaii. Beginning in the early 1990’s, licenses were either suspended or allowed to lapse to simplify its organizational structure. Today, NNIC is licensed in 9 states. In 2004, NNIC was reorganized under a restructuring order that created a general and segregated account with individual NAIC #s. The segregated account (NAIC # 11977) was established to satisfy obligations of direct policyholders and the general account (NAIC # 23914), satisfied largely reinsurance obligations. Despite this segregation, there is only one legal entity (NAIC # 23914) with the A&H policies being originally written under NAIC # 23914. However, since the segregation, Annual statement reporting for the A&H block has been under NAIC # 11977. In preparation for liquidation, the OCI recently merged the general and segregated accounts retaining NAIC #23914. In March 2007, both the general and segregated accounts were placed into rehabilitation and both accounts were released from rehabilitation in January 2012. In January 2017, under regulatory pressure, the company was acquired by Sandell Holdings SOBC Ltd. Direct liabilities are roughly 25% A&H and 75% P&C. Today, there are approximately 103 A&H insured lives spread over 18 jurisdictions with half the policyholders residing in New York and Florida.

 

Contact Information

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The liquidator, by court order, becomes the sole owner of the company's assets and administers the estate of the company. If you are unsure whom to contact with your questions, please e-mail us here, and we will forward your message to the appropriate party.

Company Details

NAIC Number: 23914

An NAIC number is a five-digit number assigned to every insurance company by the NAIC (National Association of Insurance Commissioners). Because each company has its own unique number, the NAIC number can be used to identify a particular company.

Domiciliary State: Wisconsin

The domiciliary state is the state in which an insurance company is incorporated or organized.

Rehabilitation Date: February 22, 2017

Liquidation Date: May 02, 2019

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