Church Mutual expands reach in school market
MERRILL, Wis. (June 1, 2016) — Church Mutual Insurance Company, the largest insurer of property and casualty in all denominations of religious organizations, completed on June 1 its acquisition of School Boards Insurance Company of Pennsylvania, Inc. and School Claims Services, LLC.
The acquisition allows SBIC, SCS and Merrill, Wisconsin-based Church Mutual to deepen their financial strength, expertise and commitments to their communities. The companies, aligned in their missions to protect the greater good, enjoy the endorsement of the Pennsylvania School Boards Association (PSBA).
Church Mutual had announced in October 2015 its intent to acquire SBIC and SCS, both based in Mechanicsburg, Pennsylvania, to expand its reach in the public schools market.
"This is a monumental day in Church Mutual's history, and we are excited to extend our financial strength and stability to two companies that closely align with our values," said Rich Poirier, CEO of CMIC. "Today, we open the doors to the first day of our shared journey."
The acquisition is a win-win for everyone.
Joining with a national insurance company licensed in all 50 states gives SBIC and SCS the opportunity to expand beyond Pennsylvania, mitigating the geographic concentration risk for their customers and the company.
The acquisition also allows CMIC to diversify its holdings and continue to grow and PSBA to concentrate on its mission of providing tools, training and advocacy to its elected school board membership.
"We are honored to officially welcome SBIC and SCS into our Church Mutual family," said Scott Names, vice president — CIO of CMIC. "Our shared missions of protecting organizations that improve the human condition have set us up for success, and we feel confident that there will be tangible benefits for our current and future customers."
About Church Mutual Insurance Company
Church Mutual Insurance Company, founded in 1897, offers specialized insurance for religious organizations of all denominations, as well as schools, camps, denominational offices and senior living facilities. Church Mutual markets most lines of commercial property and liability insurance, including multi-peril, workers' compensation and commercial auto insurance. Church Mutual holds the following honors:
- A.M. Best Company "A (Excellent)" rating
- 2015 Ward's 50 Top Performing Property and Casualty Insurers
- BenchmarkPortal Top 10 National Customer Service Center
About School Boards Insurance Company of Pennsylvania, Inc.
The company's mission is to provide property, casualty and other insurance coverages and services needed by Pennsylvania public schools and related entities.
About School Claims Services, LLC
School Claims Services, LLC, created for the benefit of public schools, has dedicated itself to setting the standard for the delivery of claims and risk management services, as well as employee benefit type programs.
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