BRIEF: St. Paul’s Degree of Honor merging with Wisconsin insurer, will move headquarters

Jan. 17--St. Paul-based Degree of Honor has announced plans to merge with another insurer and move its headquarters to Wisconsin.

The company's board of directors agreed in December to merge with the larger Milwaukee-based Catholic Financial Life, according to a letter to Degree of Honor's members.

The merger is expected to be completed April 1. Degree of Honor will continue to maintain an office in St. Paul until at least 2018.

"In 2017, members will see very little change," CEO Lisa Flanary told members in the letter. "Insured members will receive an endorsement to their policies that will change the underwriting company from Degree of Honor to Catholic Financial Life. Over time we will consolidate programs and benefits, taking the best from each company."

The Degree of Honor Protective Association was formed in 1873 as a Christian social organization for female dependents of railroad workers. The company, formerly headquartered in its namesake Degree of Honor building in downtown St. Paul, now provides life insurance to more than 42,000 members.

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