Two Minnesota auto insurance companies relocate to Tennessee
Posted By Kim Swindell Wood | August 8, 2019 1:11 pm
NASHVILLE – Tennessee Governor Bill Lee and Tennessee Department of Commerce and Insurance Interim Commissioner Carter Lawrence announce today that Mendota Insurance Company and Mendakota Insurance Company have completed relocating their corporate headquarters and changing their state of domicile from Minnesota to Tennessee.
“I’m pleased to see two more companies choosing to put down roots in our great state and move their corporate headquarters to Tennessee,” said Gov. Bill Lee. “This decision showcases that our unmatched business climate and talented workforce make it an ideal location for companies to do business. I thank Mendota Insurance Company and Mendakota Insurance Company for their investment in Tennessee, and I look forward to seeing all they will accomplish here.”
The insurance companies, which offer competitively priced automobile insurance to harder-to-insure customers, began selling policies in Tennessee in August. In anticipation of selling policies in the Volunteer State, the companies transferred 50 existing jobs to Tennessee and leased 11,000 square feet of office space in Nashville.
Said Steve Harrison, president of Mendota Insurance Company and Mendakota Insurance Company: “In my 45 years of insurance experience in Tennessee, it has always been a great place to do business, especially as a writer of automobile insurance. Moving the Mendota and Mendakota companies to Tennessee is a key component to our growth strategy, which includes offering our products in our new home state in August.”
During the next 12 months, an additional 15 new jobs will be created by the companies. Tennessee will be the ninth state where the insurance carriers will offer products through independent agents. The companies’ written premiums are projected to be $130 million for 2020.
Said Tennessee Department of Commerce and Insurance Interim Commissioner Carter Lawrence: “The arrival of the Mendota Insurance Company and Mendakota Insurance Company is a ‘win-win’ for Tennesseans. Tennessee consumers will have more choices when selecting the best fit for their auto insurance coverage. The companies’ plan to add new jobs will help bolster Tennessee’s already robust economy. I am pleased that they have chosen to call Tennessee home.”