EMC Insurance to Sell EMC National Life to Avocet Partners

EMC Insurance Companies has agreed to sell its ownership stake in EMC National Life Insurance Company (EMC Life) to Avocet Partners. Concurrently, EMC National Life Mutual Holding Company will demutualize, converting from a mutual holding company to a stock company, in order to facilitate the sale. EMC Insurance will maintain its mutual company structure and will not be impacted by this transaction. This strategic divestiture enables EMC Insurance to focus on its core commercial property/casualty insurance and bond products. Avocet Partners, an investment firm with a focus on insurance companies, plans to use EMC Life as the foundation for a permanent capital platform aimed at significant business growth, including expanding product offerings and distribution channels. The sale is expected to close in 2026, subject to regulatory approvals and the completion of the demutualization process. Approximately 80 employees of EMC Life, mostly based in Des Moines, Iowa, will remain in their roles with no anticipated job cuts, and Avocet anticipates future employment growth. EMC Life's name will change following the transaction's closing. EMC Insurance, originally established in 1911 and headquartered in Des Moines, is licensed across the United States and writes commercial property and casualty insurance and bonds with around 2,100 employees. This transaction reflects ongoing industry trends of insurers focusing on core businesses and partnering with capital firms to drive growth in life insurance sectors.