|Nodak Mutual Insurance Company completes affiliation agreement with Battle Creek Mutual
The Nebraska Department of Insurance approved the affiliation of Nodak Mutual Insurance Company and Battle Creek (Neb.) Mutual Insurance Company on March 4, 2011.
Under the agreement, Nodak Mutual will provide a 100% Quota Share Reinsurance Treaty where Battle Creek will cede 100% of all premium and losses to Nodak Mutual. Nodak Mutual will also appoint two-thirds of the directors to serve on the Battle Creek Board.
Battle Creek Mutual Insurance Company has provided property and casualty insurance to Nebraska policyholders since 1892. Battle Creek writes over $7.0 million in auto, home and farm premium in Nebraska and employs 27 people in Battle Creek.
Through the agreement with Nodak Mutual, Battle Creek will benefit from Nodak Mutual's A- (Excellent) A.M. Best rating, financial strength, reinsurance, products, and technology.
The company will be will be under the direction of Michael J. Alexander, Executive Vice President and CEO of Nodak Mutual Insurance Company, who will also serve as President/CEO of Battle Creek Mutual.
"Through this affiliation with Nodak Mutual, Battle Creek Mutual will continue providing the policyholders and agents of Nebraska excellent products and services in addition to the opportunity to expand beyond the auto, home, and farm lines of business," Alexander said.
Nodak Mutual Insurance Company, founded in 1946, is the largest domestic property and casualty insurer in the state of North Dakota. With a statewide force of over 70 agents, Nodak Mutual serves more than 27,000 North Dakota policyholders. Back to NEWS