Church Mutual Insurance Company

The Wisconsin Office of the Commissioner of Insurance (OCI) held a public hearing at its offices on July 19, 2019 on Church Mutual Insurance Company's application to restructure into a mutual holding company system. The hearing record will be held open until the end of the day on July 31, 2019 for comments. Comments may be sent to the OCI at The hearing record will be closed on August 1, 2019 and no further comments will be accepted after the record has been closed.

Church Mutual Insurance Company Proposes Change to Corporate Structure

Church Mutual Insurance Company is planning to form a mutual holding company. Attached are several documents that provide background on the plan and details on how the new structure will help Church Mutual remain strong and successful for the next century and beyond.

Please take a moment to read the information below, including a letter from Church Mutual Chairperson of the Board, John B. Williams, to learn more about the proposal and its policyholder benefits.

Church Mutual policyholders with questions about the plan can call 1-844-503-6969, Monday through Friday, between the hours of 7:00 a.m. and 4:15 p.m. Central Time.

CMIC Policyholder Information Booklet

Proxy Letter from Chairman

199190 Proxy Reply Card


Church Mutual Insurance Company hopes to reorganize its legal structure, based on a unanimous recommendation by its board of directors. The following questions and answers provide general information about this proposed restructuring, including the long-term business benefits.

What is the change being proposed for Church Mutual Insurance Company (CMIC)?

CMIC's board of directors is proposing that the company change the way it is organized. Currently, CMIC is organized as a mutual insurance company. With the proposed change, CMIC would convert to a stock insurance company that is wholly owned by a newly organized mutual insurance holding company (MHC). CMIC's new name would be Church Mutual Insurance Company, S.I. (CMIC, S.I.)

What is a mutual insurance holding company?

An MHC is a legal entity organized under state law to serve as the parent company of an insurance company that has been converted from a mutual company to a stock company.

How will this impact CMIC's current workforce?

The proposed MHC conversion will not involve any changes to the existing workforce, operations or office locations of CMIC.

Will the proposed restructuring affect CMIC policyholder rights?

Policyholder contract rights will not be affected in any way. There will be no changes to policyholders' insurance coverage, premiums, benefits or service as a result of the proposed change.

When the MHC restructuring becomes effective, policyholders will no longer be members of CMIC. Rather, they will automatically become members of the new mutual insurance holding company. As members of the MHC, policyholders will have rights in the MHC that are comparable to the rights they have now in CMIC.

Will anyone other than policyholders of CMIC be members of the new mutual insurance holding company?

No. Only CMIC policyholders who are policyholders on the effective date of the restructuring will automatically become members of the MHC. In addition, all future new policyholders of CMIC, S.I., will automatically become members of the MHC. CMIC, S.I., policyholders remain members of the MHC until they are no longer policyholders of CMIC, S.I.

How will the proposed MHC restructuring benefit CMIC and its policyholders?

The restructuring will enhance CMIC's ability to grow and respond to future needs, challenges and opportunities in a rapidly changing insurance industry. It will preserve the company's mutuality and the ability to operate with a focus on the long-term interests of policyholders. More specifically, the Board of Directors and CMIC's management believe that the restructuring to a mutual insurance holding company will:

  • Enhance the company's ability to acquire new businesses, if desired, and grow business in compatible markets.
  • Allow the company to expand through subsidiaries, if desired, while remaining a mutual company.
  • Strengthen the company's position with banks and other finance channels, making it easier to access financial resources for business opportunities, expansion and other improvements.
  • Help the company continue to protect the greater good and focus on serving those who serve others and improve the human condition.
  • Support the company's efforts to create and maintain a top workplace.

Ultimately, the Board of Directors and management believe that the MHC structure will help ensure that CMIC and its affiliates have the best chance to grow and succeed while the insurance industry continues to mature and evolve. As with any other business, insurance has changed dramatically since CMIC was founded more than 120 years ago. The proposed MHC structure will provide flexibility and position CMIC for continued success in the next 120 years.

Has CMIC's board of directors approved the proposed MHC restructuring?

After carefully considering the proposed restructuring and other alternatives for more than two years, the board has unanimously approved the restructuring to an MHC.

Will CMIC be regulated differently as a stock insurance company owned by an MHC?

CMIC will continue to be regulated by the Wisconsin Office of the Commissioner of Insurance (OCI) in the same way as it has been in the past. The newly organized MHC will also be regulated by the OCI.

Does CMIC plan to sell stock?

No, the company does not have any current plans to sell stock after the restructuring is complete.

What happens next?

The creation of an MHC as a holding company to hold the stock of converted CMIC must be approved by the Wisconsin OCI as well as three-fourths of CMIC members (policyholders). Members will have the opportunity to vote via proxy or at a special meeting to be held later in 2019. If the proper approvals and votes are secure, the restructuring should become effective by Jan. 1, 2020.

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Church Mutual Insurance Company
P.O. Box 357 | 3000 Schuster Lane | Merrill, WI 54452-0357
Telephone (800) 554-2642 or (715) 536-5577

© 2019 Church Mutual Insurance Company. All rights reserved. Protecting the Greater Good is a registered trademark of Church Mutual Insurance Company.