SOURCE: Electric Insurance Company

Electric Insurance Company

October 18, 2012 09:00 ET

Electric Insurance Company® Announces Renewal Rights Acquisition of Millers First Group's Preferred Personal Lines Business

BEVERLY, MA--(Marketwire - Oct 18, 2012) - Electric Insurance Company announced today that it has entered into a renewal rights agreement with Millers First Insurance Company and Millers Classified Insurance Company (collectively "Millers First"). The transaction allows Electric Insurance to provide renewal quotes for preferred direct response personal automobile, homeowners, and related insurance policies in Wisconsin, Illinois, and Missouri. The agreement expands Electric Insurance's direct-to-the-consumer personal lines business and provides potential policyholders with the ability to access one of the most highly acclaimed customer service departments in the insurance industry. 

Michael Mucher, Vice President of Sales and Marketing for Electric Insurance stated, "We are delighted to offer our financial strength and first-class customer service expertise to these Millers direct policyholders." Mr. Mucher said, "This transaction allows us to add to our presence in the Midwest and strengthen our book of business."

"We are pleased about the opportunity to work with Electric Insurance Company and look forward to building upon Electric Insurance's expertise and historic success on behalf of these direct-to-consumer policyholders. The Millers First team is working aggressively to ensure a smooth transition," stated George Milnor, Chairman and CEO of Millers First Insurance Cos.

Philo Smith Capital Corporation served as exclusive financial advisor to Electric Insurance.

About Electric Insurance Company
Electric Insurance Company (www.ElectricInsurance.com) is a national leading provider of personal and commercial lines insurance products. Established in 1966 to specifically serve GE employees, Electric Insurance now extends its superior personal lines products and outstanding service to discerning consumers inside and outside of the GE community. Electric Insurance Company -- with a credit rating of "A" from A.M. Best -- offers its auto, homeowners, condo, tenants, and umbrella insurance through the Web, select independent agents, or by calling 800.227.2757.

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