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Wisconsin Reinsurance Corporation history
Wisconsin Reinsurance Corporation company history timeline
Our company was formed in Wisconsin in 1892 as the LaCrosse Mutual Aid Association to provide disability insurance for local workers.
In 1896, an experienced insurance executive named Jerome O. Paddock became President of the company.
By 1900, he had moved the headquarters to the Germania Building in downtown Milwaukee (now on the United States National Register of Historic Places), where it would be based for many years, and renamed it Time Insurance Company.
Wisconsin Mutual Insurance Company was organized in 1903 under the name of Wisconsin Tornado Mutual Insurance Company.
In 1910, the company reorganized as a stock company, completing one of the first demutualizations in the United States.
After residing at 1619 Monroe Street across from Camp Randall for 32 years, Wisconsin Mutual constructed and moved to the current location in Old Sauk Trails Park, 8201 Excelsior Drive, in 1990.
In 2013, many of these policies were further sold to Prudential, also through reinsurance.
Assurant stopped selling new policies and placed the company in runoff in 2015.
The company has historically written business only in the state of Wisconsin and recently expanded to Minnesota in the Spring of 2017.
On December 3, 2018, Haven Holdings Inc. acquired Time Insurance Company from Assurant, Inc. and redomesticated it to San Juan, Puerto Rico.
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Wisconsin Reinsurance Corporation competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| American Property Casualty Insurance Association | 1984 | $10.6M | 125 | 7 |
| General Accident Insurance | 1981 | $16.0M | 90 | - |
| MAPFRE | 1920 | $350.0M | 600 | 3 |
| Seven Corners | 1993 | $36.5M | 110 | 4 |
| General American Mutual Holding Company | 1997 | $1.5B | 1,690 | - |
| Fort Dearborn Life Insurance | - | $1.4M | 50 | - |
| PacificSource Health Plans | 1933 | $5.0M | 3,000 | 82 |
| GEHA Health | 1937 | $1.9B | 1,500 | 51 |
| BAShealth | 1983 | $7.3M | 64 | - |
| The Commerce Insurance Company | 1972 | $1.1B | 1,495 | - |
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Wisconsin Reinsurance Corporation may also be known as or be related to Wisconsin Reinsurance, Wisconsin Reinsurance Corp and Wisconsin Reinsurance Corporation.