An alliance between COUNTRY Insurance & Financial Services of Bloomington, Ill. and Cotton States Insurance Group of Atlanta will increase the size of the COUNTRY property/casualty group by about 25 percent.
COUNTRY said the agreement will allow the COUNTRY property/casualty group to increase its geographic spread of risk and financial strength, and to share products, resources and knowledge among its affiliated companies.
In addition to the Cotton States property/casualty companies, the group consists of COUNTRY Mutual Insurance Company, Bloomington, Ill.; Middlesex Mutual Assurance Company, Middletown, Conn.; Holyoke Mutual Insurance Company in Salem, Salem, Mass.; and the MSI property/casualty companies, Arden Hills, Minn.
Under the first transaction, Cotton States Life Insurance Company merged with a subsidiary of COUNTRY Life Insurance Company. In the second transaction, Cotton States Mutual Insurance Company pooled premiums and losses with those of the COUNTRY property/casualty group. Both transactions were effective Jan. 1.
Cotton States companies will retain their names and brand and keep their home office operations in Atlanta. Policyholders will continue to work with their Cotton States agents and policies will not be affected by these transactions.
The new relationship with COUNTRY allows Cotton States Mutual and its subsidiary, Shield Insurance Company, to share the COUNTRY property/casualty group’s A.M. Best rating of A+ (Superior).
COUNTRY Insurance & Financial Services and its alliances serve more than one million households and businesses throughout the United States. Founded in 1925, COUNTRY has 3,000 employees and 2,000 exclusive COUNTRY agents in 14 Midwestern and Western states who offer a full range of property/casualty, life and annuity products, as well as financial and estate planning services. The insurance companies of COUNTRY Insurance & Financial Services are consistently rated A+ (Superior) by A.M. Best. With these Cotton States transactions, the COUNTRY insurance group has about $1.9 billion of property/casualty income premium and $580 million in life income premium.
Cotton States Insurance is a group of companies that has been providing quality insurance products to customers in the Southeast since 1941, with products for auto, home and life. It has approximately 325 Cotton States employees and 260 exclusive Cotton States agents in four Southeastern states. The Group’s product portfolio is complemented with specialty products marketed through two brokerage operations. The Cotton States Insurance Group includes Cotton States Mutual Insurance Company, Shield Insurance Company and Cotton States Life Insurance Company, including its two subsidiaries Cotton States Marketing Resources, Inc. and CSI Brokerage Services, Inc.
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