By Stephen Nakrosis

National General Holdings Corp. (NGHC) said Tuesday it will acquire National Farmers Union Property and Casualty Company from QBE North America, in a deal worth about $43 million.

National General Chief Executive Officer Barry Karfunkel said, "We are excited to continue to expand our personal lines portfolio through the acquisition of National Farmers Union Insurance."

National Farmers Union Insurance, which is based in Wisconsin, predominantly writes personal and farm auto and farm and homeowners' insurance in the Midwest U.S., National General said.

The transaction is expected to close in the first half of 2019.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

November 13, 2018 17:38 ET (22:38 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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