September 25, 2007
Western National and Farmers Home Policyholders Approve Merger Plan
Western National Mutual Insurance Company (WNMIC) and Farmers Home Mutual Insurance Company (FHMIC) today announced that they have completed the next important step in the merger of the two companies by receiving policyholder approval for the merger plan. Policyholders for each company voted in favor of the merger plan during special meetings held on September 21, 2007 at the home office in Edina, Minnesota.
Having fulfilled this step, the WNMIC-FHMIC merger plan will now be submitted to the Minnesota Commerce Department for final approval. WNMIC anticipates that the Commerce Department will approve the plan over the course of the next two months, with an effective date of 12/31/07.
“Since WNMIC’s assumption of management and control of FHMIC in June 2006, the operations have been fully integrated,” said Stu Henderson, president and chief executive officer. “The combined companies form a larger and stronger insurer, for the benefit of all policyholders.”
The Western National Insurance Group is a super-regional property and casualty insurance company with shared administrative offices in Edina, Minnesota. Western National Mutual Insurance Company writes personal and commercial lines in MN, WI, SD, ND and IA. Western National Assurance Company writes personal lines in WA, OR, NV and UT, and commercial lines in WA and OR (maintaining an underwriting and claim office in Seattle). Farmers Home Mutual Insurance Company and Western Home Insurance Company currently write personal lines in MN, WA, NV and UT, while Pioneer Specialty Insurance Company is scheduled to begin writing select classes of commercial lines business beginning in the first quarter of 2008. All of the companies' products are sold exclusively through professional independent agents.
For further information, contact:
Mary S. Manley
SVP Corporate Affairs & Administration