Reorganization Plan Approved by Mutual of Enumclaw Members
Mutual of Enumclaw Reorganization Plan Approved
Our members, in a special policyholder meeting held today in our home office in Enumclaw, approved our reorganization proposal. This reorganization will enable us to provide the same mutual membership rights to the policyholders of our subsidiary company, Enumclaw Property & Casualty.
Our policyholders specifically approved our proposal to move our state of domicile to Oregon and to convert to a mutual holding company. Both were approved by nearly 98% of those who voted.
This reorganization will not change anything about how we operate today.
• Our home office will continue to be in Enumclaw, Washington and all of our employees will continue to work from their current locations.
• The holding company will be 100% owned by Mutual of Enumclaw and Enumclaw Property & Casualty policyholders; there will be no outside investors.
• There will be no change in either Board or management compensation as part of this reorganization.
• In addition to extending mutual ownership rights to our policyholders we will also gain significant tax savings which will help to keep our premiums and expenses as low as possible.