Any update in National General absorbing Encompass Underwriting? Sounds like some redundancy there. Looking like layoffs in Encompass’ future
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50+ senior employees are going to be impacted by this acquisition. What is promoted as exciting news of growth and opportunity for the company and it’s employees does not look that way from their perspective. It’s not personal...it’s just money - right?
Would expect continued natural attrition and further reductions over the next 18-24 months. Same with all other departments.
Agree with the statements around Pat and Ken. Pat never wanted to be part of Encompass from day 1.
Anyone know what they are going to do with the 3 remaining customers left at Encompass Insurance? Will they be absorbed by Nat Gen, Allstate, or will they just leave on their own?
wow. No reason to be a jerk. Simply looking for news on a time frame. Get over yourself
Obviously you did not read the investor deck when the acquisition of NatGen was announced. “significant cost savings expected in the first year”, which translates to a reduced staff because of redundancy. Tom Wilson basically summarized that one of the reasons for the acquisition is that that NatGen was really good at acquiring companies and integrating them, so this would be in a sense a reverse acquisition where NatGen acquires Encompass and Allstate Independent Agents. If you didn’t understand this when Pat Macellaro was given a golden parachute back to Allstate as a generic senior vice president and Ken Koehler was let go, then God help you.