Grange Insurance Association has submitted an application to the Washington State Office of the Insurance Commissioner to convert to a mutual holding company structure.
The plan calls for two new parent entities to be formed, Granwest Mutual Holding Company and Granwest Intermediate Holding Company, if it is approved.
The company says the conversion will enable GIA to maintain its mutual structure while creating opportunities for geographic expansion.
Pending an OIC review, GIA plans to hold a vote seeking member consent.
The change will extend mutual membership benefits to policyholders of Granwest Property & Casualty, a GIA subsidiary鈥攅nsuring unified mutuality for all policyholders across the organization. The company says the proposed structure will not affect GIA’s board of directors, operations, independent agency relationships, employees or its service to members.
Seattle, Washington-based GIA offers a range of insurance products through exclusive independent agents in California, Colorado, Idaho, Oregon, Washington and Wyoming.
Topics Washington
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