The boards of Missouri-based mutual insurance companies, CFM Insurance Inc. and Farmers Mutual Insurance Company of Grundy County, have approved a plan to merge the two companies.
Pending formal approval by Missouri Department of Insurance Director John Huff, all FMIC of Grundy County polices will transfer over to CFM, effective Jan. 1, 2017.
FMIC of Grundy County has been in operation since 1895, and CFM has insured Missouri families and businesses since 1869, with $20 million in written premium and over 21,000 policyholders.
With this merger, the united companies will become one of the strongest and oldest mutual legacies in the state of Missouri, bringing numerous advantages for policyholders, including stronger policy coverages, rate stability, and reduced reinsurance costs.
Source: CFM Insurance Inc.
Topics Agribusiness Missouri
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