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Corporation
MOBILE & TELECOMMUNICATIONS
medmutual.com

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Investments

1

Partners & Customers

2

Service Providers

2

About Medical Mutual of Ohio

Medical Mutual of Ohio, founded in 1934, serves customers with high-quality, affordable group and personal health insurance plans, and third-party administrative services to self-insured group customers. As a mutual health insurance company, Medical Mutual is unique in that it operates for the benefit of its members.

Headquarters Location

2060 East Ninth Street

Cleveland, Ohio, 44115,

United States

800-382-5729

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Latest Medical Mutual of Ohio News

Kemper reports $74mn net loss in Q2 results

Aug 10, 2022

Reinsurance News Kemper Corporation has reported a net loss of $74.7 million for the second quarter of 2022, compared to a net loss of $62.6 million from the second quarter of 2021. Total revenues for the quarter decreased $68.7 million (5%), to $1,433.8 million, compared to the second quarter of 2021, driven by an $81.3 million decrease in the change in fair value of equity and convertible securities, $13.3 million of lower Preferred P&C earned premiums, and an $8.2 million decrease in net realized investment gains, partially offset by $33.4 million of higher Specialty P&C earned premiums. Adjusted consolidated net operating loss was $39.7 million for Q2 22, compared to adjusted consolidated net operating loss of $99.4 million from Q2 21. Additionally, Kemper Corporations specialty Property & Casualty Insurance segment reported net operating loss of $38.9 million for the second quarter of 2022, compared to net operating loss of $91.7 million in the second quarter of 2021. Kemper noted that results improved due primarily to lower development on prior year claims. At the same time, the segment’s underlying combined ratio was 108.8% for the quarter compared to 107.3% in the same period last year. Net investment income increased $4.6 million to $118.5 million in the quarter, compared to the prior year quarter. Joseph P. Lacher, Jr., President, CEO and Chairman , said: “Our second quarter results showed progress and commitment towards restoring profitability. “This was highlighted by our rate filing actions that exceeded the expectations we outlined in the first quarter. “These actions are beginning to earn in and will accelerate throughout the remainder of this year and next. This should offset ongoing environmental pressures and ultimately help us achieve target underwriting profitability.” Meanwhile, Kemper has also announced that it has agreed to sell Reserve National Insurance Company and its subsidiaries, which are predominantly focused on accident and health insurance, to Medical Mutual of Ohio for $90 million. The transaction is subject to regulatory approval and other closing conditions with an expected closing in late 2022 or early 2023. Lacher, added: “This transaction aligns with Kemper’s strategic intent and is a great fit for Medical Mutual of Ohio. It will allow Kemper to increase our focus and invest additional resources in the P&C and life insurance businesses that are providing sustainable, competitive advantages to better deliver value to all our stakeholders.” Kemper expects to record a gain upon completion of the transaction. Tom Dewey, Medical Mutual Executive Vice President, People and Strategy, commented: “This is an opportunity for Medical Mutual to strengthen our market position, as this transaction allows us to immediately expand our current product offerings. And while Ohio is our home, we also look at this as an opportunity to strategically expand our geographic footprint as a framework for future growth.”

Medical Mutual of Ohio Investments

1 Investments

Medical Mutual of Ohio has made 1 investments. Their latest investment was in Contego Medical as part of their Series B on April 4, 2015.

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Medical Mutual of Ohio Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/17/2015

Series B

Contego Medical

$5.6M

Yes

2

Date

4/17/2015

Round

Series B

Company

Contego Medical

Amount

$5.6M

New?

Yes

Co-Investors

Sources

2

Medical Mutual of Ohio Acquisitions

4 Acquisitions

Medical Mutual of Ohio acquired 4 companies. Their latest acquisition was Reserve National Insurance Company on August 01, 2022.

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

8/1/2022

$99M

Acquired

4

3/3/2021

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$99M

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10

1/8/2020

Series A

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$99M

$99M

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10

3/1/2016

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$99M

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10

Date

8/1/2022

3/3/2021

1/8/2020

3/1/2016

Investment Stage

Series A

Companies

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Valuation

$99M

$99M

$99M

$99M

Total Funding

$99M

Note

Acquired

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Sources

4

10

10

10

Medical Mutual of Ohio Partners & Customers

2 Partners and customers

Medical Mutual of Ohio has 2 strategic partners and customers. Medical Mutual of Ohio recently partnered with Lark Health on February 2, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

2/9/2021

Licensor

United States

Medical Mutual Combines A.I. Digital Health Coaching From Lark With Live Care Management Support To Boost Population Health Benefits

As part of the partnership , Medical Mutual 's chronic condition management program will utilize four Lark Health programs at no cost to the participating member .

4

6/6/2016

Partner

United States

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10

Date

2/9/2021

6/6/2016

Type

Licensor

Partner

Business Partner

Country

United States

United States

News Snippet

Medical Mutual Combines A.I. Digital Health Coaching From Lark With Live Care Management Support To Boost Population Health Benefits

As part of the partnership , Medical Mutual 's chronic condition management program will utilize four Lark Health programs at no cost to the participating member .

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Sources

4

10

Medical Mutual of Ohio Service Providers

2 Service Providers

Medical Mutual of Ohio has 2 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Acquired

Investment Bank

Financial Advisor

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Service Provider

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Associated Rounds

Acquired

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Provider Type

Investment Bank

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Service Type

Financial Advisor

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Partnership data by VentureSource

Medical Mutual of Ohio Team

2 Team Members

Medical Mutual of Ohio has 2 team members, including former Chief Operating Officer, Executive Vice President, Sue Tyler.

Name

Work History

Title

Status

Sue Tyler

Chief Operating Officer, Executive Vice President

Former

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Name

Sue Tyler

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Work History

Title

Chief Operating Officer, Executive Vice President

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Status

Former

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