Mutual Re expands ownership group with Mutual Assurance Society of Virginia addition
- June 17, 2025
- Posted by: Kassandra Jimenez-Sanchez
- Category: Insurance
Mutual Re, a Chicago-based reinsurance underwriting association writing business through reinsurance intermediaries, has announced the addition of Mutual Assurance Society of Virginia will be added to its ownership group.
Effective January 1, 2026, Mutual Re’s ownership will be held by Mutual Assurance Society of Virginia, Farm Bureau Mutual Insurance Company of Michigan, Kentucky Farm Bureau Mutual Insurance Company, and Motorists Mutual Insurance Company (Encova Mutual Insurance Group).
John Meyers, President and CEO of Mutual Re, said: “We are excited to announce the addition of Mutual Assurance Society of Virginia to our group of existing owners.
“They have a very strong balance sheet and long history of serving their policyholders. Mutual Assurance Society of Virginia is an A rated insurer who brings a strong commitment to the mutual industry.”
Theresa Lewis, Secretary-Treasurer of Mutual Assurance Society of Virginia, commented: “This partnership represents an important and exciting step for us. By joining Mutual Re, we’re able to deploy our capital efficiently, diversify our risk, and participate in a respected reinsurance platform that supports the stability and success of mutual insurers nationwide.”
Mutual Assurance Society of Virginia (the Society) is working closely with the Virginia Bureau of Insurance to meet all regulatory requirements.
Effective January 1, 2026, Mutual Re will remain well capitalised with over $5 billion of combined policyholder surplus among its four assuming companies.
