Conversion of Bloomington Farmers Mutual Insurance Company

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Last Updated: December 22, 2023

​Information on the Proposed Conversion of Bloomington Farmers Mutual Insurance Company to a Chapter 611 Insurance Company

On September 9, 2023, Bloomington Farmers Mutual Insurance Company (Bloomington), a 612 town mutual insurer, filed a statement pursuant to s. 612.23 Wis. Stat. on behalf of the company seeking to convert to a ​611 mutual insurer.  The company intends to first convert, in accordance with the conversion plan, and then affiliate with Mt. Morris Mutual Insurance Company (MMIC).  MMIC separately filed a Form A Application for approval of the affiliation/change in control.

Application Materials Filed on September 9, 2023:

• Transmittal letter
• Board Resolution
• Plan of Conversion (Executed)​
• ​​Proposed Notice of Special Meeting
  
• Proposed Policyholder Summary of Plan of Conversion
• Proposed Policyholder Resolution/Ballot
• ​Proposed Vote Report to be Sent to OCI
• 2022 Annual Statement​
• Proposed Amended and Restated Articles of Incorporation [CONFIDENTIAL]
• Proposed Amended and Restated Bylaws [CONFIDENTIAL]
• Affiliation Agreement [CONFIDENTIAL]
• Business Plan [CONFIDENTIAL]
• Director Biographicals [CONFIDENTIAL]
• Financial Projections and Compulsory Surplus Calculation [CONFIDENTIAL]
• Reinsurance Pooling Agreement [CONFIDENTIAL]
• Reinsurance Allocation Agreement [CONFIDENTIAL]
• Management Agreement [CONFIDENTIAL]

Policyholder Vote Documents:

• Bloomington Conversion Voting Report
  

Decision Documents:

• Recommendation Memo​
  
• OCI Approval Letter​
  
• Vote Certification Letter​