NGL Files with Wisconsin Office of the Commissioner of Insurance to Restructure as a Mutual Holding Company

Madison, Wis. (June 5, 2025) – After thoughtful consideration and strategic planning, National Guardian Life Insurance Company’s (NGL) leadership team and Board of Directors, have approved a proposal to restructure NGL into a mutual holding company.

NGL has filed a plan with the Wisconsin Office of the Commissioner of Insurance to form a mutual holding company. Subject to regulatory and policyholder approval, National Guardian Life Insurance Company will convert to a stock insurer and will become a wholly-owned subsidiary of the mutual holding company.

“With over a century of providing valuable insurance solutions, NGL understands the importance of a forward-looking approach and delivering on our promises,” said Joe Celentano, President and CEO at NGL. “Transitioning to a mutual holding company marks a significant milestone in NGL’s journey. This structure enhances our ability to grow, adapt and invest in the future, while preserving our commitment to our policyholders, team members and partners. It positions us for long-term strength, flexibility and continued mutual benefit.”

Restructuring as a mutual holding company will enhance NGL’s ability to grow, innovate and serve customers better – while preserving the core values that come with being a mutual insurance company. Policyholders will maintain ownership and control of the insurance holding company while providing NGL greater financial flexibility.

The Wisconsin Office of the Commissioner of Insurance will hold a public hearing to review the proposed reorganization and, if approved after this hearing, the proposal will also be submitted to a vote of the policyholders later this year. If all approvals are obtained, the proposed reorganization is expected to become effective on January 1, 2026.

About NGL

Established in 1909 National Guardian Life Insurance Company (NGL) is an insurance company headquartered in Madison, Wis. Licensed to do business in 49 states and the District of Columbia, NGL markets preneed and individual life and annuities, as well as group markets products. Information about NGL can be found at www.nglic.com; Facebook: Facebook.com/NGLIC and LinkedIn: https://www.linkedin.com/company/national-guardian-life-insurance-company.

National Guardian Life Insurance Company is not affiliated with The Guardian Life Insurance Company of America a/k/a The Guardian or Guardian Life.