Neenah insurer Equitable Reserve to merge into Modern Woodmen [Milwaukee Journal Sentinel]
By Guy Boulton, Milwaukee Journal Sentinel | |
McClatchy-Tribune Information Services |
Equitable Reserve's 19,000 members would become members of Modern Woodmen once the transaction is completed. Modern Woodmen also would take over Equitable Reserve's operations, assets and liabilities.
"This decision was made in the interest of protecting our members' benefits and ensuring those benefits are available when needed,"
Twenty-eight people in Equitable Reserve's headquarters in
Modern Woodmen does not expect to hire additional staff once the transaction is completed but Equitable Reserves sales agents will be offered jobs with Modern Woodmen.
Equitable Reserve, founded in 1897, operates in 12 Midwestern states and the
The company has a
Modern Woodmen, founded in 1883, is the third-largest fraternal financial services organization in
At the end of 2011, Modern Woodmen had more than
The insurance company has an A+ Superior rating from
"In Modern Woodmen, we see a partner who, with more than
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