The story
One of the two companies that became National General Insurance was life insurance company Integon, founded in Winston-Salem, North Carolina, in 1920. The second company was Motors Insurance Company, founded in 1925 by General Motors. It was seen as a way to offer damage coverage to GM vehicles sold by dealers and financed by GMAC (now Ally Financial).
In 1969, Integon Corp. started a holding company and began insuring high-risk drivers. Integon underwent a number of changes in ownership and business emphases and struggled during the mid-1990s, which included the 1994 purchase of Bankers and Shippers Insurance Company, headquartered in Burlington, North Carolina. In June 1997, GMAC announced they were acquiring Integon in a deal valued at $550 million. When the deal finally closed in October 1997, it was for $778M. In 2000, Integon became GMAC Insurance Personal Lines.
In 2006, General Motors sold 51% of GMAC (now Ally Financial) to an affiliate of Cerberus Capital Management; at the time, 1,179 worked in Winston-Salem.
In 2009, American Capital Acquisition Corp., a unit of American Capital Partners LLC of Hauppauge, New York bought GMAC's U.S. consumer property-casualty insurance business GMAC Insurance Holdings, Inc.
On 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.
In July 2020, Allstate announced it was acquiring National General for $4 billion. The deal closed in January 2021.
From Wikipedia’s article on National General Insurance, shared under CC BY-SA 4.0.4