Theresa Mutual Insurance Company

What Theresa Mutual Insurance Company does

Theresa Mutual Insurance Company is a Wisconsin-only property and casualty mutual insurance company founded in 1879 and headquartered in Theresa, Wisconsin. The company offers four core product lines — homeowners (including condo, mobile home, rental dwelling, and seasonal residence coverage), renter/tenant, farm, and small commercial — distributed exclusively through a network of 12 or more independent insurance agents across Wisconsin communities. As a mutual, the company is owned by its policyholders, who elect a Board of Directors comprised of local farmers, homeowners, and business owners at an annual meeting; current officers are President Tracy Kinyon, Vice President Rodney Justman, Secretary Robert Belling, and Treasurer Ralph Pribnow.

The company carries approximately 1,703 in-force policies as of December 31, 2023, with $644.5 million in fire coverage, $656.5 million in liability coverage, and $4.2 million in special property coverage, supported by $5.1 million in total surplus. There is no proprietary technology platform, no mobile application, no public API, and no AI/ML capabilities disclosed — the technology footprint is limited to a basic company website, an agent web inquiry portal, and standard phone/email/fax communication. Reinsurance risk is managed through a partnership with global broker Guy Carpenter.

Revenue is generated through recurring insurance premiums on annual policies, with pricing determined through individual risk-based quoting rather than public rate cards. The company merged with Holland Mutual Fire Insurance Company effective January 1, 2023 (Holland Mutual dissolved, Theresa Mutual the surviving entity), and converted from a Chapter 612 town mutual to a Chapter 611 mutual insurance corporation effective January 1, 2024 — a restructuring that broadens its operational flexibility within the State of Wisconsin, where it remains exclusively licensed to write business.

Name

Theresa Mutual Insurance Company

Legal name

Theresa Mutual Insurance Company

Website

https://theresamutual.com

Company type

Private

Founded year

1879

Operating status

Operating

Short description

Theresa Mutual Insurance Company is a Wisconsin-licensed mutual property and casualty insurer serving approximately 1,703 policyholders with homeowners, farm, renter, and small commercial coverage distributed exclusively through independent agents across the state.

Ownership category

akta.pro rank

Headquarters

HQ city

Theresa

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Insurance Premiums: Theresa Mutual Insurance Company generates revenue through insurance premiums collected from policyholders. As a mutual insurance company, policyholders are members/owners. The company offers coverage for farms, homes, mobile homes, rental dwellings, tenants, and small businesses. Premiums are collected on a recurring basis aligned with policy terms.

Pricing tiers

Go-to-market motion1 record

Distribution channels12 records

Marketing channels3 records

Core offering

Theresa Mutual Insurance Company is a policyholder-owned mutual insurer licensed exclusively in Wisconsin. It underwrites and sells property and casualty insurance—homeowners (homes, condos, mobile homes, rental dwellings, seasonal residences), renters/tenants, farm, and small commercial business coverage—through a network of independent insurance agents across the state.

Product overview

Theresa Mutual Insurance Company is a mutual insurance company offering a portfolio of property and casualty insurance products exclusively in Wisconsin. The product lineup consists of four core insurance offerings: Homeowners Insurance (covering homes, condos, mobile homes, rental dwellings, and seasonal residences), Renter/Tenant Insurance, Farm Insurance, and Commercial-Small Business Insurance. All products are distributed through a network of independent insurance agents across Wisconsin communities. The company operates on a 'neighbor helping neighbor' philosophy and is owned by policyholders.

Differentiator

Problem solved

Functional benefit

Products and services

• Homeowners Insurance Property and casualty coverage for Wisconsin homeowners, including primary residences, condominiums, mobile homes, rental dwellings, and seasonal residences.
• Farm Insurance Property and liability coverage designed for Wisconsin farm operations, protecting farm buildings, equipment, livestock, and agricultural operations.
• Renter/Tenant Insurance Coverage for tenants and renters in Wisconsin, protecting personal property and providing personal liability protection.
• Commercial Small Business Insurance Property and liability coverage tailored for small businesses operating in Wisconsin.

Quantifiable outcome

• 144 years of continuous operation since 1879
• +2 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered major and core.

• Holland Mutual Fire Insurance CompanymajorStrategic or Co-development Partner · 1 January 2023Holland Mutual Fire Insurance Company merged with Theresa Mutual Insurance Company effective January 1, 2023. After the merger, Holland Mutual ceased to exist, and the surviving entity was Theresa Mutual Insurance Company. This merger expanded Theresa Mutual's policyholder base and geographic presence in Wisconsin.
• Guy CarpentercoreOthersTheresa Mutual's reinsurance is brokered through Guy Carpenter, a leading global reinsurance broker. This is a critical partnership for managing risk exposure and maintaining financial stability.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• American Family Insurance: Largest Wisconsin-based mutual insurer offering personal, commercial, farm, and life products across many states. Overlaps Theresa Mutual in farm and homeowners but operates at vastly larger scale and national footprint.
• State Farm: Largest U.S. personal lines insurer with strong agent-based distribution and broad homeowners/farm coverage. Competes against Theresa Mutual in Wisconsin personal lines at much larger scale.

Emerging players

• Hippo Insurance: Digital-first homeowners insurtech targeting homeowners with smart-home-driven underwriting. Represents the technological disruption vector threatening traditional small mutual homeowners insurers.
• Lemonade: AI-driven digital insurance carrier offering renters, homeowners, and pet insurance through a mobile-first experience. Emerging competitive threat to traditional mutual insurers in younger and renter customer segments.

Direct peers

• West Bend Mutual Insurance Company: Wisconsin-based mutual property/casualty insurer with multi-state operations. Peer in mutual structure and personal/small-commercial lines, though larger scale and broader geographic reach.
• Mutual of Wausau Insurance Corporation: Wisconsin mutual property/casualty insurer providing farm, home, and commercial coverage. Comparable mutual insurance peer serving similar Wisconsin rural and small-business customers.
• Wisconsin Mutual Insurance Company: Wisconsin Chapter 611 mutual property/casualty insurer serving farms, homes, and small businesses. Closely comparable to Theresa Mutual in scale, line of business, and policyholder-ownership model.
• Society Insurance: Wisconsin-domiciled mutual insurer focused on small commercial and personal lines. Comparable mutual structure and small-business coverage overlap with Theresa Mutual's commercial offering.
• Rural Mutual Insurance Company: Wisconsin-based mutual insurer focused on farm, home, and commercial coverage for rural customers. Direct peer with similar mutual structure, geographic focus, and product mix to Theresa Mutual.
• SECURA Insurance: Mutual insurance company headquartered in Wisconsin offering farm, home, auto, and commercial coverage. Comparable mutual structure with broader product portfolio but overlapping Wisconsin farm/home market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/TheresaMutualInsuranceCompany

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Theresa Mutual Insurance Company