Page 22 - Frankenmuth Insurance 150 Years Anniversary Booklet
P. 22
New millennium, new neighbors
The company’s efforts to stay at the forefront of technology in the insurance industry
were ready to pay off. For both agency partners and the company as a whole,
the new technology meant greater speed and accuracy, reduced expenses and
enhanced productivity. The result: direct written premium soared from $269 million
in 2000 to almost $364 million in 2005.
The company was licensed in 37 states, but as of 2000, was doing
business in only six: Michigan, Illinois, Indiana, Ohio, Virginia and
Wisconsin. It became a company goal to not only increase business in those
states, but also to expand into others. From 2004 to 2006, the company
began writing commercial lines products in Georgia, Tennessee, North Carolina
and South Carolina. In 2009, Kentucky and Alabama were also added.
While moving south, the company also looked to the northeast to meet some
new neighbors. A merger with Patriot Mutual Insurance Company, a personal lines
property and casualty insurer, occurred in July 2007. During this time of growth and
change, the company adopted the logo that is in use today and began calling itself
simply Frankenmuth Insurance. Similarly, Patriot Insurance Company was adopted as
the subsidiary’s business name.
New life for the company
Patriot Insurance does business in Maine, New Hampshire and Vermont, and also
had a small dormant life insurance subsidiary, Patriot Life Insurance Company.
In 2010, Patriot Life was relocated to Michigan, and issued its first policy on
December 6, 2010.
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