Tracing the Ownership History of United Home Insurance Company

When choosing an insurance provider, it’s reassuring to know a company has a stable ownership background. United Home Insurance Company has over 100 years of history, but who owns this regional insurer today? Let’s explore the key phases and transitions in United Home’s ownership structure.

Humble Beginnings as a Policyholder-Owned Mutual

The origins of United Home Insurance Company date back to 1913 in Paragould, Arkansas. A group of local businessmen founded the company as the United Home Protective Association to provide fire insurance to homeowners in Greene County.

In these early days, United Home was structured as a mutual insurance company. This meant the company was collectively owned by its policyholders rather than external shareholders.

As a mutual company, United Home was essentially operated for the benefit of policyholders. Policyholders elected the board of directors, who provided oversight on behalf of these member-owners

Steady Geographic and Product Line Growth

Over the decades United Home gradually expanded its market footprint

• 1928 – Added auto insurance to the product portfolio
• 1930s – Extended operations into new counties and states
• 1960s – Launched farm insurance and entered Missouri
• 1970s – Expanded into Kentucky, Oklahoma, and Tennessee
• 1980s – Introduced homeowners insurance

So United Home progressively grew from its origins as a fire insurer into a multi-line property and casualty insurance company serving an expanding regional territory.

Demutualization and Acquisition by Farm Bureau

In 1992, United Home demutualized its structure, converting from a mutual company owned by policyholders into a stock company owned by external shareholders.

As part of this process, United Home was acquired by Arkansas Farm Bureau, which purchased all outstanding shares of the company. So Arkansas Farm Bureau became the parent company and sole shareholder of United Home.

Ownership Transition to Current Private Shareholders

In 2014, Arkansas Farm Bureau sold United Home Insurance Company to a group of private investors:

• Kyle Harris – CEO and majority shareholder
• Matthew Miller – President and COO
• Chris Clampitt – Minority shareholder and board member

This group of businessmen from Northeast Arkansas took over ownership and management of United Home with a strategy focused on agent partnerships and controlled growth.

The Benefits of the Current Private Ownership Model

Today, United Home continues operating as a private stock company majority owned by Kyle Harris. This current structure offers advantages including:

• Independence: With autonomous decision-making, United Home can nimbly adapt to evolving customer needs.

• Local focus: The owners’ close regional ties foster a community-focused culture.

• Growth opportunities: The owners are implementing an expansion strategy while preserving local values.

• Digital transformation: Investments in technology aim to improve customer and agent experiences.

So the present ownership model balances capabilities to modernize with maintaining the company’s identity as a trusted local insurer.

Commitment to Financial Strength

Importantly, United Home’s strong financial footing has remained steady throughout changes in ownership type. Key facts about their finances:

• A+ (Superior) rating from A.M. Best

• Over $125 million in policyholder surplus and reserves

• Licensed to operate in all 50 states

This financial stability gives policyholders confidence despite shifts in United Home’s ownership over the decades.

Looking Ahead Under Current Leadership

For over a century, United Home Insurance Company has adapted its ownership structure to best meet evolving market conditions.

Today, majority owner Kyle Harris and his co-investors are well-positioned to guide United Home into its next chapter. Their focus is on sustaining local values while accelerating growth through digital solutions and customer-centric innovation.

So while specific faces have changed over time, United Home’s commitment to protecting customers and communities remains constant. The company’s present leadership is laying the groundwork for continued prosperity in the years ahead.