Medical Mutual Finalizes Acquisition of Reserve National Insurance Company
Accident and health company adds new products and markets to Ohio insurer
CLEVELAND, December 05, 2022--(BUSINESS WIRE)--On Dec. 1, 2022, Medical Mutual closed on the acquisition of Reserve National Insurance Company, formerly Kemper Health. The acquisition provides Medical Mutual with avenues to immediately bolster and expand its product offerings and strategically expand its geographic footprint.
"We are very excited for the opportunities this acquisition affords," said Tom Dewey, Medical Mutual Executive Vice President, Corporate Initiatives and Chief People Officer. "Reserve National has a strong suite of products that align well with Medical Mutual’s core offerings. The company is a great addition for us and our customers."
Reserve National is headquartered in Oklahoma City, Oklahoma, and currently has 176 employees and a network of approximately 600 independent agents. Reserve National operates in Ohio plus 44 other states and Washington, D.C. All 176 employees became Medical Mutual employees when the transaction closed.
"The Reserve National employees bring valuable knowledge and experience regarding the product lineup and markets," Dewey said. "It makes sense for Medical Mutual to take full advantage of that expertise. We’re happy to have them as our colleagues."
About Medical Mutual of Ohio
Founded in 1934, Medical Mutual is the oldest and one of the largest health insurance companies based in Ohio. We provide peace of mind to more than 1.2 million Ohioans through our high-quality health, life, disability, dental, vision and indemnity plans. We offer fully insured and self-funded group coverage, including stop loss, as well as Medicare Advantage, Medicare Supplement and individual plans. Medical Mutual’s status as a mutual company means we are owned by our members, not stockholders, so we don’t answer to Wall Street analysts or pay dividends to investors. Instead, we focus on developing products and services that allow us to better serve our customers and the communities around us and help our members achieve their best possible health and quality of life. For more information, visit the company’s website at MedMutual.com.
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