SECURA INSURANCE, A Mutual Company Restructuring

Last Updated:  October 27, 2020 

Information on SECURA INSURANCE, A Mutual Company's Application to Restructure into a Mutual Holding Company Pursuant to Chapter 644 of the Wisconsin Insurance Code.

On May 8, 2020, SECURA INSURANCE, A Mutual Company (SECURA) filed a proposed plan for a mutual holding company restructuring.  As described in the filing, the effect of the restructuring will cause the following to occur: 

  1. The formation of SECURA Insurance Mutual Holding Company.
  2. Conversion of SECURA from a mutual insurance company to a stock insurance company, to be known as SECURA Insurance Company. 
  3. All of the common stock of the newly converted SECURA Insurance Company would be contributed to a newly formed intermediate holding company, SECURA Holdings, Inc. (SHI).
  4. SHI would be a wholly owned subsidiary of SECURA Insurance Mutual Holding Company.
  5. SECURA Insurance Company would become a wholly owned second tier subsidiary of SECURA Insurance Mutual Holding Company.

State law allows for a mutual insurance company to convert to a stock insurance company by placing the mutual policyholders' ownership rights in a mutual holding company that then becomes the direct or indirect owner of the newly converted stock insurance company.  This transaction needs to be filed with, and approved by OCI before it can be completed. 

The restructuring plan filed by SECURA, along with all pertinent correspondence and statutorily required information will be placed in this section of OCI's website.  This transaction requires a public hearing to be held before a decision is made by the OCI on the restructuring plan.

Table of Contents Provided by the Company for the Mutual Holding Company Plan

List of Filed Exhibits:

Final Policyholder Information Package

Email from Morgan J. Tilleman, Foley & Lardner LLP, to Steven J. Junior, OCI, dated August 2020, which included as attachments:

Notice of Hearing:


Decision Documents:

Member Vote: