Motorists Insurance Group and BrickStreet Mutual Insurance Co. are now Encova Mutual Insurance Group following the announcement of the new brand name and identity for their joint venture.
Columbus, Ohio-based property/casualty insurer Motorists and Charleston, West Virginia-based workers’ compensation insurer BrickStreet Mutual affiliated through a joint venture in 2017. Since it was not a merger, policyholder approval was not necessary.
At that time, the insurers said their joint venture using an affiliation agreement would allow them to partner together financially and operationally while maintaining their individual brands.
However, the affiliation has advanced to where they have now developed this new single brand.
“For the last two years, we have continued to integrate our operations and truly become one company,” Encova CEO Dave Kaufman said. “Our new brand identity is designed to show our well-rounded product offering and capabilities.”
“We are redefining ourselves in the market,” Encova president and chief operating officer TJ Obrokta Jr. said. “We are debuting a new brand identity, but Encova has decades of industry knowledge to expand our product offerings. We’ve created a more robust experience for our agents and policyholders.”
Over the next year, the company said it will update building signage, marketing materials and other collateral to reflect the new brand identity.
As mutual companies, both continue to be owned by their policyholders. As part of the affiliation they will still be using the same writing companies; they are only changing the identity in the market to Encova Insurance. While Columbus is the headquarters for the affiliated organization, the insurance companies that make up the group retain their current state of domicile or headquarters, according to a spokesperson.
The newly-branded entity provides commercial, auto, home and life insurance. The group markets through 2,000 independent agencies in the Midwest, Northeast and South.
The new Encova.com website launches Monday, July 15.
Encova classifies as a super regional carrier with more than 1,200 associates writing in 28 states and the District of Columbia, premiums in excess of $1 billion, a surplus in excess of $1.46 billion and assets in excess of $4.1 billion.
Motorists Insurance Group consists of 11 property/casualty insurance, life insurance and insurance brokerage companies.
BrickStreet Insurance began its role as West Virginia’s first private workers’ compensation carrier in 2006. Since then, BrickStreet has expanded operations into other states to become a regional carrier.
Was this article valuable?
Here are more articles you may enjoy.