Pharmacists Mutual Insurance Company to Become Pharmacists Mutual Insurance Group
ALGONA, Iowa, June 23, 2025 /PRNewswire/ -- Pharmacists Mutual Insurance Company, a nationally recognized leader in commercial property and casualty insurance products for pharmacies and specialty healthcare service providers, is pleased to announce its restructuring into a limited mutual holding company (LMHC). The newly formed mutual holding company will be known as Pharmacists Mutual Insurance Group. The conversion to a LMHC is expected to be effective January 1, 2026.
This announcement follows approval by the company's lead regulator, the Iowa Insurance Division. This change allows the company to enhance its operational and financial flexibility while continuing to provide comprehensive insurance solutions for specialty healthcare businesses and grow its national insurance retail business, PMCA Insurance Solutions.
"This new structure gives us greater ability to enhance product offerings, pursue strategic partnerships, and better serve our distribution and reinsurance partners without compromising the quality of our agents' and insureds' experience with us.," said Aaron Pearce, CEO of Pharmacists Mutual.
The mutual holding company structure also further supports Pharmacists Mutual's ongoing efforts to expand into new markets and strengthen relationships with independent agencies and distribution partners. It also aligns with the company's commitment to long-term financial stability.
There will be no change to day-to-day operations, existing policies, or the great service that agents and insureds have come to expect from Pharmacists Mutual.
About Pharmacists Mutual Insurance Company:
Pharmacist Mutual Insurance Company is headquartered in Algona, Iowa. PMIG provides specialized insurance products through its underwriting companies and in partnership with independent agencies around the United States. Founded in 1909, the group continues to be a leading provider of commercial lines property and casualty products for independently owned and operated pharmacies in the United States. The insurance company subsidiaries of PMIG are rated A- (Excellent) by AM Best.
DISCLAIMER:
This document is being distributed for information purposes only. Pharmacists Mutual Insurance Company reserves the right to revise this content at any time. The statements contained herein are not guarantees of future performance of Pharmacists Mutual Insurance Company and its subsidiary affiliates, and undue reliance should not be placed on them. The very nature of Pharmacists Mutual's insurance business involves underwriting of risk and taking risk. Further, any such statements that may be understood as forward-looking statements regarding expectations or assumptions that management of the company believes may prove true in the future, especially those concerning future performance and financial results in subsequent quarters, may differ materially from the actual results realized at that future time. Copyright 2025, Pharmacists Mutual Insurance Company, all rights reserved.
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SOURCE Pharmacists Mutual Insurance Group