National Guardian Life Insurance Company’s board of directors, its policyholders and the Wisconsin Office of the Commissioner of Insurance, approved NGL converting to a mutual holding company, effective Jan. 1, the company announced Monday.
The regulatory and policyholder approval converts the organization to a stock insurer and a subsidiary of the mutual holding company.
NGL filed a plan with the Wisconsin Office of the Commissioner of Insurance to form a mutual holding company in June.
According to a statement, restructuring as a mutual holding company enhances NGL’s ability to grow, innovate and serve customers better. Policyholders will maintain ownership and control of the insurance holding company while providing NGL greater financial flexibility.
“For more than 100 years, NGL has been built on strength, stability and a deep commitment to serving our policyholders. Converting to a mutual holding company allows us to preserve those values while giving NGL flexibility to invest in our future, enhance our already strong financial position and continue delivering long-term security for the customers who rely on us,” Joe Celentano, president and CEO of NGL, said in a statement.
Along with the conversion to a mutual holding company, the Wisconsin Office of the Commissioner of Insurance also approved the organization’s name change to NGL Insurance Company. While effective at the start of 2026, additional filings are being made with each state while NGL completes the name change process.
NGL is an insurance company headquartered in Madison and established in 1909.
