Mr Cooper Group Inc (COOP)

[Nightdaytrader]

Interesting that below, Washington Mutual Insurance and Wayne Mutual Insurance signed an "affiliation" agreement that authorizes Wayne Mutual BODs and company officers to lead both companies but will operate as separate entities...

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Washington and Wayne Mutual merge

Posted Sep 17, 2009 at 4:05 AM

Washington Mutual Insurance Association in Lakeville has signed an affiliation agreement with Wayne Mutual Insurance Company. The agreement, which has been approved by the Ohio Department of Insurance, authorizes the existing Wayne Mutual board of directors and company officers to lead both companies. “Washington Mutual has a proud heritage of meeting the insurance needs of its policyholders,” said Tod J. Carmony, who serves as chairman, chief executive and president of both companies. “We have the highest regard for the talented and dedicated staff at Washington Mutual and are confident that, working together, we can provide our policyholders with a broad range of insurance products and services to meet their individual needs.” Washington Mutual provides insurance protection for homes, farms, personal property, livestock, machinery and other valuable items. The company provides protection against financial loss by fire, windstorms, or lightning and offers extended-coverage policies for additional perils as well. Washington Mutual Township & Fire Insurance Association was founded in 1878 to benefit area farmers. The company hired its first agent in 1890. Agents and directors worked from their homes until 1925, when the first office was constructed near Lakeville. Since its inception, Washington Mutual has continued to grow with very little change in philosophy. Washington Mutual remains a mutual company, owned by its policyholders. “This affiliation is an ideal move for our company, our policyholders, and our agents,” said Blaine E. Budd, general manager of Washington Mutual. “Being part of another successful insurance organization will enable us to combine our strengths and provide a broader and deeper range of insurance solutions.” With the affiliation now approved, the two companies will begin working closely together, but will continue to operate as separate entities. “Wayne Mutual will celebrate its 100th anniversary in 2010,” said Carmony. “This affiliation will better position our company to provide the strength, security and superior service our policyholders have come to expect.” Wayne Mutual Insurance Company has provided property & casualty insurance to Ohio residents since 1910. Headquartered in Wooster, the company markets its products and services exclusively through a statewide network of more than 100 independent agencies.

http://www.the-daily-record.com/news/20090917/washington-and-wayne-mutual-merge