March 26, 2015
Western National Mutual Insurance Company and Michigan Millers Mutual Insurance Company Finalize Affiliation
(Minneapolis, Minn.) Western National Insurance Group today announced that it has met all regulatory and legal steps to finalize the affiliation between Western National Mutual Insurance Company and Michigan Millers Mutual Insurance Company, effective immediately. Michigan Millers will continue to operate as a separate entity writing commercial and specialty lines subsequent to its planned exit from personal lines in 2015. Western National will provide both implicit and explicit support to the company moving forward.
Stuart Henderson, President and Chief Executive Officer of the Western National Insurance Group, will also serve as the Chief Executive Officer of Michigan Millers. Thomas Lindell will continue to serve as President of Michigan Millers.
“We are excited to officially welcome Michigan Millers into our Group,” said Henderson. “Our companies have similar values and histories, and our affiliation brings with it better geographical diversification, operational expense savings, expanded market reach, and increased financial support to both organizations. We look forward to continuing to build on the strong financial security this affiliation brings to the policyholders of Michigan Millers and Western National.”
This affiliation closing announcement follows the recent news that A.M. Best Company has upgraded the financial strength rating of Michigan Millers from “B++ (Good)” to “A- (Excellent)” and its issuer credit rating from “bbb” to “a-“. The outlook for these ratings is stable. Western National’s A.M. Best rating remains “A” with a stable outlook.
Michigan Millers Mutual Insurance Company, headquartered in Lansing, Mich., is a regional property-and-casualty insurance company serving individuals, families, and businesses in Michigan and New York. The company distributes its products exclusively through Independent Insurance Agents.
Western National Insurance Group, headquartered in Edina, Minn., is a super-regional group of seven active property-and-casualty insurance companies. The Group insures personal and business coverages plus surety in 19 states across the Midwestern, Northwestern, and Southwestern U.S.; and surety-only in another 7 states. The Group distributes its products exclusively through Independent Insurance Agents.
For further information, please contact:
Steve Norman, CPCU, M.A., AIT
Assistant Vice President – Communications
(952) 921-5680 or (800) 862-6070 Ext. 7680