After a merger between three insurance companies, including Allendale
Mutual Insurance Co., is completed the resulting company’s executive
offices will be located in Johnston, R.I., according to state and
company officials.
Officials from Allendale; Arkwright Mutual Insurance Co. in Waltham,
Mass.; and Protection Mutual Insurance Co. in Park Ridge, Ill., expect
the merger to be complete in January 1999. The resulting company will be
called Factory Mutual Insurance Co. The three companies jointly own
Factory Mutual in Norwood, Mass., which helps insurance clients minimize
losses through research and training.
A consultant helped determine where the companies’ headquarters would
go, after reviewing property owned by the companies involved.
The merger still needs approvals from state regulators and each
company’s policyholders, according to a joint statement issued by the
three insurers.
The insurance companies’ statement indicates they expect to go from 350
to 450 employees in Rhode Island over the next two years.
