Church Mutual expands reach in school market

Company acquires insurance operations in Pennsylvania

MERRILL, Wis.--(BUSINESS WIRE)-- Church Mutual Insurance Company, the largest insurer of property and casualty in all denominations of religious organizations, completed on June 1 its acquisition of School Boards Insurance Company of Pennsylvania, Inc. and School Claims Services, LLC.

The acquisition allows SBIC, SCS and Merrill, Wisconsin-based Church Mutual to deepen their financial strength, expertise and commitments to their communities. The companies, aligned in their missions to protect the greater good, enjoy the endorsement of the Pennsylvania School Boards Association (PSBA).

Church Mutual had announced in October 2015 its intent to acquire SBIC and SCS, both based in Mechanicsburg, Pennsylvania, to expand its reach in the public schools market.

“This is a monumental day in Church Mutual’s history and we are excited to extend our financial strength and stability to two companies that closely align with our values,” said Rich Poirier, CEO of CMIC. “Today, we open the doors to the first day of our shared journey.”

The acquisition is a win-win for everyone.

Joining with a national insurance company licensed in all 50 states gives SBIC and SCS the opportunity to expand beyond Pennsylvania, mitigating the geographic concentration risk for their customers and the company.

"Our companies and cultures are aligned in our commitment to offer insurance protections and risk control solutions to our customers," said Roy Jacobs, president of SBIC. "The future will be exciting as we combine our expertise across public and private schools to deliver deeper expertise and value to our customers."

The acquisition also allows CMIC to diversify its holdings and continue to grow and PSBA to concentrate on its mission of providing tools, training and advocacy to its elected school board membership.

“We are honored to officially welcome SBIC and SCS into our Church Mutual family,” said Scott Names, vice president — CIO of CMIC. “Our shared missions of protecting organizations that improve the human condition have set us up for success and we feel confident that there will be tangible benefits for our current and future customers.”

About Church Mutual Insurance Company

Church Mutual Insurance Company was founded in 1897 and offers specialized insurance for religious organizations of all denominations, schools, camps, denominational offices and senior living facilities. Church Mutual markets all lines of commercial property and liability insurance, including multi-peril, workers’ compensation and commercial auto insurance.

Fact Sheet

Church Mutual’s mission is to be the premier provider of insurance services to our customers in the religious institutional marketplace and other compatible markets.

Headquarters

• 3000 Schuster Lane, Merrill, Wisconsin

Founded

• 1897

Financials

• $1.6 Billion in Assets (2015)

• $585 Million in Policyholders’ Surplus (2015)

• $663 Million in Direct Premiums Written (2015)

Market Area

• All 50 states and the District of Columbia

Products and Services

• Most lines of commercial property and liability insurance, including multi-peril, workers’ compensation and commercial auto insurance

Insurance Specialty

• Churches, schools (public/private, K-University), camps, conference centers and assisted living centers

Number of Employees

• Approximately 800 in Merrill

• Approximately 240 in the field

Awards and Recognition

• “A (Excellent)” rating with A.M. Best Company

• 2015 Ward’s 50 Top Performing Property and Casualty Insurance Companies

• National Customer Service Center ranked top 10 in nation by BenchmarkPortal

Website

• www.churchmutual.com

About School Boards Insurance Company of Pennsylvania, Inc.

The company's mission is to provide property, casualty and other insurance coverages and services needed by Pennsylvania public schools and related entities.

Located in Mechanicsburg, Pennsylvania.

Assets

$186 million (2015)

Market area

Pennsylvania

About School Claims Services, LLC

School Claims Services, LLC, created for the benefit of public schools, has dedicated itself to setting the standard for the delivery of claims and risk management services, as well as employee benefit type programs.

Located in Mechanicsburg, Pennsylvania.

Assets

$8.7 million (2015)

Market area

Pennsylvania

For more information about School Claims Services, visit https://www.schoolclaimsservices.com/.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160602005182/en/

Church Mutual Insurance Company
Amy Kimmes, marketing communication consultant
715-539-4529
[email protected]

Source: Church Mutual Insurance Company

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