Foley & Lardner represented Madison, Wisconsin.-based National Guardian Life Insurance Company in the creation of a strategic partnership with New York-based Insurance Capital Group, a leading strategic investor in the mutual insurance industry, to launch BrightBenefits, a new national dental and vision insurer.
The new strategic partnership allows the 110-year-old NGL to diversify its investments into new markets without losing its focus on being a leading provider of preneed insurance for customers across the country.
NGL and ICG, through their Federal Life Group, Inc. affiliate, developed and created BrightBenefits. BrightBenefits policies will be issued by Commercial Travelers Insurance Company, an A.M. Best A- (Excellent) rated affiliate of NGL. Federal Life will make a significant equity investment in BrightBenefits, subject to regulatory approval.
Partner Anne Ross led the Foley team, which also included partners Maureen Easton and Andrew Nelson.