What Happens Next
In the coming months additional information will be provided to policyholders by mail. If the proposal to reorganize receives regulatory approval in each state and is approved by policyholders, a mutual holding company (MHC) will be formed. South Carolina Farm Bureau Mutual Insurance Company along with Farm Bureau Mutual Insurance companies in Arkansas, Colorado and Louisiana will merge and simultaneously create Farm Bureau Property Insurance Company, a stock company wholly owned by the MHC. Under the new structure, South Carolina Farm Bureau Mutual Insurance Company will be reorganized as South Carolina Farm Bureau Insurance Company, a subsidiary of Farm Bureau Property Insurance Company. Policyholder contract rights will be transferred to South Carolina Farm Bureau Insurance Company and membership rights will be vested in the Mutual Holding Company.
Contact Us for More Information
If you have additional questions about the proposed reorganization that have not been answered on this website, you may email us at Growing@scfbins.com and someone will be in contact with you soon.