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Two of the Oldest Mutuals within the Nation Be a part of Forces
Norfolk & Dedham (N&D®) and Union Mutual, with a mixed 350 years of delivering high quality service and insurance coverage merchandise, are excited to announce their intent to affiliate, topic to regulatory approval. Each firms are rated A (Glorious) with a Steady outlook by AM Greatest.
The affiliation brings a unified subsequent step towards mutual progress and resilience for each firms, their staff, policyholders, brokers, group companions and distributors. Joel P. Murray and Lisa L. Keysar will stay President and CEO of their respective organizations. Murray will function Board Chair of the mixed group.
“Each of our organizations deliver to this affiliation monetary energy, native market experience and distinctive service in our respective markets,” stated N&D’s Board Chair, President & CEO Joel Murray.
“The chance to develop via affiliation between two firms that share related tradition and ideas is thrilling. We stay up for constructing upon our profitable historic outcomes to return collectively to allow strategic pursuits and innovation,” stated Union Mutual’s President and CEO Lisa Keysar.
The brand new group will write a balanced e-book of private and business strains enterprise in eight states with roughly $596 million in direct written premium and over $580 million in policyholder surplus. The group can have roughly 250 staff and 600 impartial brokers with 1,000 company places of work throughout the Northeast. Every firm will proceed to market merchandise beneath their current manufacturers in every of their respective marketplaces.
N&D will preserve their headquarters in Dedham, MA, as they’ve since their founding in 1825. Union Mutual can even preserve their headquarters in Montpelier, VT, the place it celebrates its a hundred and fiftieth anniversary this 12 months.
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