Frankenmuth Insurance Converts to a Mutual Holding Company Structure.
Frankenmuth Insurance converted to a mutual holding company structure, effective January 1, 2023.
The conversion resulted in the formation of a new mutual holding company called Frankenmuth Mutual Holding Company, which will continue to be owned by its members (policyholders). Additionally, the property and casualty insurance company, Frankenmuth Mutual Insurance Company, converted to a wholly owned stock subsidiary of Frankenmuth Holdings, Inc. and changed its name to Frankenmuth Insurance Company. The company will continue to present itself in the marketplace as Frankenmuth Insurance.
From an operations standpoint, Frankenmuth Insurance will continue to uphold the principles and culture of a mutual company, owned by its members. Agency partners and policyholders alike can expect the same exceptional service and products they have come to expect from the company.
“We’re excited about the new corporate structure and the strategic opportunities it provides,” said Fred Edmond, President and CEO of Frankenmuth Insurance. “This conversion affords us tremendous flexibility to raise capital for continued growth and investment that is not otherwise available to mutual insurance companies. We believe this is a positive next step in the history of our company and it creates an even brighter future for our agent partners and employees.”
This conversion has no impact on the company’s partnerships with independent agencies, and there will be no changes to rates, coverages, or obligations to our policyholders as a result.
