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National General Holdings Acquires Assigned Risk Solutions in New Jersey

National General Holdings Corp. announced that it has closed upon the acquisition of Saddle Brook, New Jersey-based Assigned Risk Solutions Ltd. from Toronto-based Kingsway Financial Services for a purchase price of $47 million in cash and potential future earnout payments.

Assigned Risk Solutions is a managing general agency that services assigned risk auto, private passenger auto and commercial lines of business. It also offers claims, investigative, and cost containment services for client companies. The firm is licensed in 22 states with a heavy concentration of business coming from New York, New Jersey and Pennsylvania, and has over 230 employees.

Assigned Risk Solutions has managed over $100 million in premium in 2014 across their multi-state distribution platform, according to National General Holdings’ announcement.

National General Holdings, based in New York City, is a specialty personal lines insurance holding company providing personal and commercial auto, homeowners, umbrella, recreational vehicle, motorcycle, supplemental health, and other niche insurance products.

Topics Mergers & Acquisitions Auto New Jersey

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ASSIGNED RISK SOLUTIONS LTD

National producer number:, buttomholder, license information, qual information, 1 individual associations.

Feds details how investigation into Saddle Brook armed robbery led to charges

assigned risk solutions saddle brook nj

Five Passaic County residents were charged in an armed robbery of a Saddle Brook home in June 2022, U.S. Attorney Philip R. Sellinger said Friday.

Jamere Dixon, 23, Jahad Foxworth, 25, Tyra Jones, 24, Jancarlos Rodriguez, 23, and Lanasia Smith, 24, all from Paterson, are each charged with one count of conspiracy to commit Hobbs Act robbery and one count of conspiracy to use and carry a firearm during and in relation to a crime of violence.

On June 28, 2022, at about 12:32 a.m., law enforcement responded to a report of an armed robbery in a Saddle Brook home. According to the press release sent by the U.S. Attorney's Office, Foxworth, Rodriguez and Dixon entered the home when they were let in by Smith, who was staying with the victims at the time.

Officials said video surveillance footage showed that three masked men, one carrying a firearm, ordered the two victims at gunpoint to lie facedown. One masked assailant allegedly ordered one of the victims to show them the location of a safe and open it.

According to the criminal complaint, suspects stole drugs including marijuana, cocaine and prescription drugs, about $11,000 in $100 bills, about $2,300 in one-dollar bills, three gold chains, a wallet containing about $1,500 cash as well as personal and business credit cards, four cellphones, and two security cameras.

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The criminal complaint document shows an image from video footage from the home showing one of the masked men with a tattoo that may signify membership in a neighborhood street gang based in Paterson.

The investigation revealed the cellphone numbers of the assailants. Through search warrants and cellular towers in the area of the home at or near the time of the robbery, call records showed multiple contacts among the alleged conspirators around the time of the robbery. Specifically, authorities say Smith sent a picture of a safe in the residence to Rodriguez about an hour before the robbery.

A review of records showed that the credit cards of the victim were used at a Paterson gas station moments after the robbery, police say. Gas station surveillance footage shows a car present at around the time the credit card was used, and further investigation showed that the same vehicle was a rental car operated by Rodriguez, officials said.

The criminal complaint said the stolen credit cards were also used at a second Paterson gas station and convenience store later that night. A white Honda Accord allegedly belonging to Jones was present at the time the credit card was used at the second station. Video footage from the convenience store showed Jones, Smith and Rodriguez there buying items with large numbers of one-dollar bills, authorities said.

The defendants appeared on Feb. 28 in federal court in Newark. Dixon, Foxworth and Rodriguez were detained. Jones and Smith were each released on $100,000 unsecured bond.

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