Frankenmuth Insurance is converting to a mutual holding company structure, effective January 1, 2023.
The conversion resulted in the formation of a new mutual holding company called Frankenmuth Mutual Holding Company, which will continue to be owned by its members (the policyholders). In addition, the property and casualty insurance company, Frankenmuth Mutual Insurance Company, was converted into a wholly owned stock reporting company to Frankenmuth Holdings, Inc. and renamed Frankenmuth Insurance Company. The company will continue to market itself as Frankenmuth Insurance.
From an operational standpoint, Frankenmuth Insurance will continue to uphold the principles and culture of a mutual company owned by its members. Agency partners and policyholders alike can expect the same exceptional service and products they have come to expect from the company.
“We are excited about the new corporate structure and the strategic opportunities it provides,”; said Fred Edmond, president and CEO of Frankenmuth Insurance. “This conversion gives us tremendous flexibility to raise capital for continued growth and investments not otherwise available to mutual insurers. We believe this is a positive next step in our company’s history and it creates an even brighter future for our agent partners and employees .”
This conversion has no impact on the company’s partnerships with independent agencies, and there will be no changes to rates, insurance or obligations to our policyholders as a result.