On January 1, 2025, Rural Mutual Insurance Company and Badger Mutual Insurance Company will officially join forces, following approval from the Wisconsin Office of the Commissioner of Insurance (OCI).
Together, these two institutions boast an impressive combined history of more than 227 years in providing farm, commercial, and personal insurance solutions.
Announcement and Strategic Move
The partnership was first announced in October 2024, signaling a strategic move for both companies.
Dan Merk, Rural Mutual’s Executive Vice President and CEO, shared his excitement about this new collaboration.
He highlighted the extensive efforts both companies have made to blend their respected brands seamlessly.
Merk is optimistic about the advantages that this partnership is poised to bring to both organizations.
Financial Stability and Contributions
As they work together, Rural Mutual will capitalize on its robust financial stability, which is underscored by an AM Best A+ rating.
The company prides itself on having a dedicated team, skilled local agents, and efficient operations.
In turn, Badger Mutual will contribute its experienced management team and a broad network of independent agents, which enhance sales potential across six states, extending well beyond Wisconsin.
Assessment and Future Evaluation
While both companies maintain their current ratings, an assessment process will take place, allowing AM Best to evaluate the new partnership after the transaction is completed.
This thorough review will provide insights into the impact of the collaboration on both organizations’ standings.
Source: Insurancejournal.com
