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Corporation
FINANCE | Insurance
magmutual.com

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About MAG Mutual Insurance Company

MAG Mutual Insurance Company (MagMutual) provides medical professional liability (malpractice) insurance in Alabama, Arkansas, Florida, Georgia, Kentucky, North Carolina, South Carolina, Tennessee and Virginia.

MAG Mutual Insurance Company Headquarter Location

3525 Piedmont Road NE Bldg 8-600

Atlanta, Georgia, 30305,

United States

404-842-5600

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MAG Mutual Insurance Company Web Traffic

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Latest MAG Mutual Insurance Company News

MAGMutual’s Acquisition Of West Virginia Mutual Insurance Company

Dec 2, 2020

MAG Mutual Insurance Company, a Georgia stock insurance company (“MMIC”), and its ultimate parent, MAG Mutual Holding Company, on the closing of their sponsored demutualization of West Virginia Mutual Insurance Company, a West Virginia mutual insurance company (“WVMIC”). As part of the sponsored demutualization, WVMIC converted from a mutual insurance company to a stock insurance company (the “Demutualization”), and MMIC acquired all of the stock of WVMIC (the “Acquisition”). The proceeds of the Acquisition are being distributed to WVMIC’s eligible policyholders. In order to consummate the Acquisition and Demutualization, the parties were required to (a) hold a public hearing with respect to the Demutualization and the Acquisition, (b) obtain approvals from WVMIC’s policyholders and the West Virginia Offices of the Insurance Commissioner (“WV OIC”) with respect to the Demutualization (and the plan of conversion) and (c) obtain approval from WV OIC with respect to the Acquisition. MMIC is a Georgia-domiciled property and casualty insurance company that is currently licensed in 48 states and currently writes Medical Professional Liability insurance for physicians, physician networks and health care facilities on a claims-made and occurrence basis. WVMIC is a mutual insurance company organized under the laws of the State of West Virginia and that was created in 2004 in order to serve the public interest of providing West Virginia physicians with a stable means to obtain affordable medical liability insurance. WVMIC provides nonassessable policies of medical malpractice insurance to physicians located in West Virginia of all practice types and specialties. The King & Spalding team included Bernhardt Nadell (Picture), Gary Ho, Enrico Granata, Dongkwan Kim (DK), Edouard S. Markson, Abraham N.M. Shashy, Jr. (Hap), Laura Westfall, Adrian Karas, Mary Longenbaker, Conrad C Axelrod, Edward Holzwanger and John Daniel Carroll.

MAG Mutual Insurance Company Acquisitions

2 Acquisitions

MAG Mutual Insurance Company acquired 2 companies. Their latest acquisition was West Virginia Mutual Insurance on December 02, 2020.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

12/2/2020

$99M

Acquired

1

5/2/2013

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$99M

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10

Date

12/2/2020

5/2/2013

Investment Stage

Companies

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Valuation

$99M

$99M

Total Funding

Note

Acquired

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Sources

1

10

MAG Mutual Insurance Company Partners & Customers

1 Partners and customers

MAG Mutual Insurance Company has 1 strategic partners and customers. MAG Mutual Insurance Company recently partnered with Wolters Kluwer on September 9, 2016.

Date

Type

Business Partner

Country

News Snippet

Sources

9/9/2016

Partner

Netherlands

First-ever Partnership with Insurance Carrier Reflects Commitment to the Continuum of Care. MagMutual Partners with Wolters Kluwer to Provide UpToDate Clinical Decision Support to All Policy Owners.

This first-ever partnership with an insurance carrier reflects Wolters Kluwer Health 's commitment to improving clinical effectiveness by helping organizations across the continuum of care -- from hospitals and health systems to insurance companies like MagMutual -- deliver optimal care to patients .

2

Date

9/9/2016

Type

Partner

Business Partner

Country

Netherlands

News Snippet

First-ever Partnership with Insurance Carrier Reflects Commitment to the Continuum of Care. MagMutual Partners with Wolters Kluwer to Provide UpToDate Clinical Decision Support to All Policy Owners.

This first-ever partnership with an insurance carrier reflects Wolters Kluwer Health 's commitment to improving clinical effectiveness by helping organizations across the continuum of care -- from hospitals and health systems to insurance companies like MagMutual -- deliver optimal care to patients .

Sources

2

MAG Mutual Insurance Company Team

7 Team Members

MAG Mutual Insurance Company has 7 team members, including current Chief Executive Officer, President, Neil Morrell.

Name

Work History

Title

Status

Neil Morrell

Chief Executive Officer, President

Current

Joseph S. Wilson

Vanderbilt Health Services

Chief Executive Officer

Current

Naveed Anwar

Chief Financial Officer

Current

William Kanich

Chief Medical Officer

Current

Michael Markett

Executive Vice President

Current

Name

Neil Morrell

Joseph S. Wilson

Naveed Anwar

William Kanich

Michael Markett

Work History

Vanderbilt Health Services

Title

Chief Executive Officer, President

Chief Executive Officer

Chief Financial Officer

Chief Medical Officer

Executive Vice President

Status

Current

Current

Current

Current

Current

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