State Mutual Insurance Company

State Mutual Insurance Company is a mutual insurance company based in Rome, Georgia, USA. The company specializes in the sale of Medicare supplement insurance. It was established in 1937 by six prominent figures from Rome as a means to provide employment and income for the town’s residents during the Great Depression. The company was initially chartered under Florida law as Georgia had no legal provisions to accommodate a company without stockholders. However, it was re-chartered in Georgia in 1982. State Mutual Insurance is owned by its policyholders and not stockholders, with decisions made on behalf of the policyholders. The company conducts business in 41 states including the District of Columbia. During the 1980s, State Mutual absorbed six other life insurance companies and maintained policyholders and agents in over 30 states. In the 1990s, the company shifted its market to seniors, developing life insurance and Medicare supplement products with competitive rates. By the early part of the 21st century, State Mutual had over 1,000,000 Medicare supplement policyholders. In 2010, the company developed a secure, Internet-based application system for obtaining a Medicare supplement plan. The company maintains its office in historic downtown Rome, close to its original 1936 location.