Company History and Background

Maine Mutual Group can trace its heritage back over 100 years when it originated as the Aroostook County Patrons Mutual Fire Insurance Company which was incorporated in Houlton, Maine in August of 1897. A group of citizens who were concerned about the cost and availability of insurance in Aroostook County organized the company. Back then, the company insured against loss or damage to property by fire and lightening to farms, potato houses and other properties. In 1906, the company relocated to Presque Isle where it shared offices with other local insurance companies.

In December of 1968, the name of the company changed to Maine Mutual Fire insurance Company as a result of the merger of Aroostook County Patrons Mutual Fire Insurance Company with the Maine Mutual Fire Insurance Company of Lisbon Falls, Maine. In 1978, Maine Mutual again merged with the United Mutual Insurance Company, which came into existence in 1955 after the merger of two other companies – Northern Maine Patrons Mutual Fire Insurance Company and the Aroostook Mutual Fire Insurance Company.

The company, with a premium volume of just under $1,000,000 in 1968, has grown tremendously since the mergers. In 1980, approval to operate in the State of Vermont was received and by 1984, we were approved to operate in the State of New Hampshire. Our agency plant expanded quickly and production continued to increase; by 1988 Maine Mutual had grown to over $20,000,000 in premium volume. With such growth, Maine Mutual’s Main Street home of 36 years was no longer large enough for operations and so moved to its new corporate headquarters located on Maysville Street.

In 1991, Maine Mutual Fire Insurance Company was awarded the Governor’s Award for Business Excellence. The company, comfortable in their newly constructed and enlarged corporate office, truly came to be seen as a regional carrier with direct written premiums in excess of $28,100,000. Maine Mutual not only grew in written premium volume but also expanded in the lines of coverage it provides. From its early writing of farms and other related properties, Maine Mutual expanded its products offered to homeowners, mobile homes, automobiles, dwelling fire, boats, snowmobiles, various commercial packages, business owners, commercial auto, umbrella liability and various personal articles. Also known in New England for its excellence in service and for the quality of its insurance products, Maine Mutual developed many long-standing relationships with quality independent agencies.

 A. M. Best, which produces “Best Key Rating Guide”, evaluates the factors affecting 2,300 U.S. property/casualty insurers in order to provide Best’s opinion of an insurance carrier’s financial strength and ability to meets its contractual obligations. Maine Mutual has consistently maintained a rating classification of “A” to “A-“ (Excellent).

In March of 2002, Maine Mutual’s policyholders, through overwhelming majority vote, endorsed an historic step with the formation of a Mutual Holding Company (MHC). This new structure will position our company well for the future due to its ability to facilitate our growth by providing broader capital raising capabilities.

The MHC resulted in a new name for our insurance entity, MMG Insurance Company. Our slogan for this transition was “Same people. Same promise.”, as all facets of our business remained in place except for our name. As well, the Maine Mutual logo has also remained constant with a small addition to signify the formation of our MCH – Maine Mutual Group.

Simply put, our future has never looked brighter and we look forward to the MHC’s contribution to keeping our company a regionally focused, independent carrier far into the future.

In 2006, the company was approved to operate in the state of Pennsylvania.  By the close of 2006 , MMG posted written premiums in excess of $107,000,000.  Now over 1500 licensed Independent Agents in over 305 agency locations throughout Maine, New Hampshire, Vermont and Pennsylvania represent MMG Insurance Company.

Download "Maine Mutual Fire Insurance Company: Security, Savings and Service, 1897-1997" by George W. Scott & Omer A. Thibodeau. 1.2MB  / 25 pages.  Estimated download time is 10 minutes.