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NatGen president Karfunkel leaves business after takeover by Allstate

National General Holdings (NatGen) president Robert Karfunkel has resigned from the business effective immediately, according to a filing with the US Securities and Exchange Commission.

Karfunkel had been with the business since it was founded in 2010 and was appointed president and co-chairman in 2018. During his time at NatGen he has also served as executive vice president, chief marketing officer and executive vice president of strategy and development.

He started his career as a marketing analyst for Maiden Reinsurance from 2009 to 2010.

Allstate completed its $4bn acquisition of the personal lines insurers earlier this month, saying that the transaction would grow its personal lines market share by around one percentage point.

An SEC filing at the time said that Barry Karfunkel, Robert Karfunkel and Barry Zyskind ceased to be directors but did not mention exit dates.  It also confirmed the expansion of the board to 16.

Allstate agreed to purchase NatGen in July at a 64% premium to the trailing 30-day average share price and 2.33x tangible book value.

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