Motorists Insurance Group and BrickStreet Mutual Insurance Co. are now Encova Mutual Insurance Group following the announcement of the new brand name and identity for their joint venture.
Ohio-based property/casualty insurer Motorists and West Virginia-based workers’ compensation insurer BrickStreet Mutual affiliated through a joint venture in 2017. Since it was not a merger, policyholder approval was not necessary.
At that time, the insurers said their joint venture using an affiliation agreement would allow them to partner together financially and operationally while maintaining their individual brands.
However, the affiliation has advanced to where they have now developed this new single brand.
“For the last two years, we have continued to integrate our operations and truly become one company,” Encova CEO Dave Kaufman said. “Our new brand identity is designed to show our well-rounded product offering and capabilities.”
“We are redefining ourselves in the market,” Encova president and chief operating officer TJ Obrokta Jr. said. “We are debuting a new brand identity, but Encova has decades of industry knowledge to expand our product offerings. We’ve created a more robust experience for our agents and policyholders.”
Over the next year, the company said it will update building signage, marketing materials and other collateral to reflect the new brand identity.
As mutual companies, both continue to be owned by their policyholders and remain headquartered in West Virginia and Ohio…