|Neenah, Wis. (Jan. 6, 2020) – SECURA Insurance, A Mutual Company policyholders have voted to approve the company's plan to restructure to a Mutual Holding Company. The conversion to a Mutual Holding Company, previously approved by SECURA's Board of Directors and the Wisconsin Office of the Commissioner of Insurance (OCI), became effective Jan. 1, 2021.
On the effective date of the restructuring, all policyholders of SECURA, which is now known as “SECURA Insurance Company,” acquired mutual membership and voting rights in SECURA Insurance Mutual Holding Company. Policyholders of SECURA’s affiliate, SECURA Supreme Insurance Company, will also acquire the same membership and voting rights as policies are issued or renewed after the effective date.
"SECURA has been a mutual company, owned by our policyholders since 1900," said Dave Gross, SECURA President & CEO. "The restructure to a Mutual Holding Company will ensure mutuality for all of our policyholders and will help us respond to the continually changing needs of the insurance marketplace."
Transitioning to a Mutual Holding Company does not directly impact the company's Board of Directors, independent agents, associates, or SECURA's insurance operations, including policy coverages and rates.