The Andover Companies has completed its reorganization into a mutual holding company structure, effective January 1, 2026
The plan of reorganization was recently approved by the Massachusetts Di
vision of Insurance and the policyholders of Merrimack Mutual Fire Insurance Co. and Cambridge Mutual Fire Insurance Co.
Both mutuals are now wholly owned subsidiaries of The Andover Companies, Inc., headquartered in Andover, Mass. Bay State Inc. is also part of the group.
Massachusetts Approves Reorganizations, Mergers for Andover Companies
Under the reorganization, Merrimack Mutual was converted into
a stock insurance company and re-named Merrimack Insurance Co. and Cambridge Mutual was converted into a stock insurance c
ompany and re-named Cambridge Insurance Co.
Members of the group offer personal lines products including homeo
wners, condo and renters insurance and business insurance products that they distribute through independent agents.
The company says the new structure will “enhance operational efficie
ncy, support long-term competitive standing, and unlock strategic opportunities in a continually evolving marketplace.”
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“By adopting a mutual holding company structure, we are preserving the mutual roots that have defined our organization fo
r nearly 200 years while creating the flexibility required to continue meeting the needs of our policyholders, agents, and employees
for generations to come,” stated Chuck DiGrande, president and CEO.
Louisiana Insurance Commissioner Tim Temple announced in March that Liberty Mutual owes approximately
$4 million to about 138,000 Louisiana policyholders after overcharging the Louisiana Property Insurance Corporation Emergenc
y Assessment for the past four years. Temple said the Louisiana Department of Insurance received a consumer com
pliant in February about the Louisiana Citizens assessment charged on their Liberty Mutual renewal notice. LDI
reached out to Liberty Mutual and discovered that due to an error, the company had not updated the assessment percentage since 2021. By April 1, Liberty Mutual had adjust
ed the assessment charge to 0% for all affected policyholders.