Church Mutual Insurance Company, a Merrill, Wisconsin-based insurer of religious organizations, announced that it has agreed to acquire the insurance operations of the Pennsylvania School Boards Association. Terms of the transaction were not disclosed.
Under the acquisition agreement, Church Mutual will acquire School Boards Insurance Company of Pennsylvania Inc. and School Claims Services LLC.
School Boards Insurance Company of Pennsylvania, based in Mechanicsburg, Pennsylvania, writes specifically tailored types of coverage — including property, general liability, boiler and machinery, commercial auto, errors and omissions (school leaders legal liability), excess liability and workers’ compensation — to meet the needs of its Pennsylvania public schools policyholder base.
School Claims Services, based in New Cumberland, Pennsylvania, provides third-party claims administration and risk management services, as well as employee benefits programs and marketing.
“This agreement is a win-win for Church Mutual and the Pennsylvania School Boards Association’s insurance operations,” said Church Mutual CEO Mike Ravn. “In an effort to diversify holdings and increase financial stability, Church Mutual and School Boards Insurance Company of Pennsylvania are unifying to expand expertise and enhance value in serving schools and other organizations critical to their communities.”
Church Mutual said the acquisition is expected to close during the second quarter of 2016, on or about April 1.
Church Mutual was founded in 1897 and offers specialized insurance for religious organizations of all denominations, including religious-related schools, camps, denominational offices and senior living facilities. The company markets most lines of commercial property and liability insurance, including multi-peril, workers’ compensation and commercial auto insurance.
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