# Westminster American Insurance Company

Westminster American Insurance Company is an Insurance based in Owings Mills, United States.

## Overview

- **Organization type:** Insurance
- **Headquarters:** Owings Mills, United States
- **Region:** North America
- **Address:** 8890 McDonogh Road, Suite 310, Owings Mills, MD 21117, United States
- **Founded:** 1872
- **Assets under management:** Undisclosed
- **Website:** westminsteramerican.com
- **LinkedIn:** https://www.linkedin.com/company/gowaic

## Regulatory record

- **Reports private funds:** No

## About

Westminster American Insurance Company was founded in 1872 in Westminster, Maryland, and operates today from Owings Mills. John Scott Jr. serves as President and CEO, and in 2024 he and Scott Insurance Holdings LLC repurchased the company from NI Holdings, Inc., which had owned it since 2020. His father, John Scott Sr., is also associated with the holding entity, grounding the insurer as a multi-generational family enterprise. The company writes property and casualty coverage concentrated in the Mid-Atlantic, with a product line that historically includes homeowners, dwelling fire, and commercial multi-peril policies. Its investment portfolio — funded by float from premiums — is managed internally as a regulated insurance general account, implying a fixed-income-heavy allocation consistent with state insurance commission requirements. Geographic footprint remains Maryland and neighboring states. Team size and total invested assets are not publicly disclosed. The 2024 buyback from publicly traded NI Holdings returned the company to closely held status, removing quarterly reporting requirements and public equity-market scrutiny. No adjacent philanthropic foundation or co-investment club is publicly associated with the Scott family or the firm. Structurally, WAIC differs from most peer insurers by recently completing a de-mutualization reversal — moving from a public-company subsidiary back to private family control. This architecture allows investment decisions to prioritize long-duration matching and illiquidity premiums without quarterly earnings pressure, a posture few small-cap insurers can sustain.

## Sectors

- Insurance

## People

- John Scott Jr. — President and CEO

## Questions

### Who controls Westminster American Insurance Company?

John Scott Jr. controls the company as President and CEO through Scott Insurance Holdings LLC, the private entity that reacquired WAIC from NI Holdings in 2024. His father, John Scott Sr., is also associated with the holding company.

### What happened between WAIC and NI Holdings?

NI Holdings, Inc., a publicly traded insurance holding company, acquired Westminster American Insurance Company in 2020. In March 2024, the Scott family repurchased WAIC through Scott Insurance Holdings LLC, returning it to private ownership after four years as a subsidiary of a public company.

### What lines of insurance does WAIC underwrite?

WAIC is a property and casualty insurer. Its historical product mix includes homeowners, dwelling fire, and commercial multi-peril coverage, focused on the Mid-Atlantic region. The company operates through independent agents.

### How does WAIC manage its investment portfolio?

As a regulated insurance company, WAIC manages a general account investment portfolio funded by policyholder premiums. State insurance regulations require high-quality, largely fixed-income allocations to match liability durations. Specific allocation, size, and external manager relationships are not publicly disclosed.

### Is Westminster American Insurance Company publicly traded?

No. WAIC became a private company in March 2024 when the Scott family reacquired it from publicly traded NI Holdings, Inc. Prior to the 2020 acquisition by NI Holdings, it had been a long-standing mutual insurer, then a mutual holding company structure.

## Related profiles

- [Westmann Islands Pension Fund](https://altss.com/profile/westmann-islands-pension-fund)
- [Westminster Financial Advisory](https://altss.com/profile/westminster-financial-advisory)

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Last updated: 2026-06-03T20:00:00.000Z

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