Merger of Wisconsin-Based United Mutual into Ohio Mutual Holding Company Completed
The merger of Wisconsin-based United Mutual Insurance Company as a subsidiary under Ohio Mutual Insurance Group’s mutual holding company structure has been completed effective Oct. 1.
“Ohio Mutual is pleased to add the agents and members of United Mutual to the Ohio Mutual family, and to add the Wisconsin market to our growing geographic footprint,” said Mark C. Russell, Ohio Mutual President & CEO. “This merger is the culmination of months of intensive effort by both organizations, key partners and advisors, and regulators in both Wisconsin and Ohio. Now that the transaction is complete, the work of realizing the full potential of this effort begins.”
Immediate plans include adding new products and additional benefits to members in the Wisconsin market, to round out the product lines previously offered by United Mutual. Products will continue to be marketed under the United Mutual brand.
The boards of directors for both organizations voted on May 17 to approve the transaction, and the merger was approved by United Mutual policyholders in July. As a result of the merger, United Mutual has been redomesticated to Ohio and joins Ohio Mutual’s intercompany pool: Ohio-domiciled Ohio Mutual Insurance Company, its wholly owned subsidiary United Ohio Insurance Company, and Maine-domiciled Casco Indemnity Company – all entities of holding company Ohio Mutual Insurance Group, Inc.
The transaction with United Mutual adds nearly 6,000 policyholders in North Central and Western Wisconsin and 40 independent agencies to Ohio Mutual Insurance Group, Inc.
Ohio Mutual , founded in 1901 and based in Bucyrus, OH, partners with nearly 400 independent agencies to distribute quality property and casualty insurance products throughout Connecticut, Indiana, Maine, New Hampshire, Ohio, Rhode Island, Vermont, and now Wisconsin. Ohio Mutual has maintained a rating of “A / Stable” from A.M. Best Co. for 31 consecutive years, and has been named to the “Ward’s 50” nine times since 2009. Additional company information is available at www.omig.com.
