UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ___)*
Mercer Insurance Group, Inc.
(Name of Issuer)
(Title of Class of Securities)
(CUSIP Number)
Randy A. Ramlo
President and Chief
Executive Officer
United Fire & Casualty Company
118 Second Avenue, S.E.,
Cedar Rapids, Iowa 52407
(319) 399-5700
with a copy to:
Brian J. Fahrney
Sidley Austin LLP
One South Dearborn
Chicago, Illinois
(312) 853-7000
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
o
Note:
Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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1
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NAMES OF REPORTING PERSONS
United Fire & Casualty Company
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
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(a)
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(b)
þ
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SEC USE ONLY
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS)
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OO
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Iowa
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7
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SOLE VOTING POWER
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NUMBER OF
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0
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SHARES
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8
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SHARED VOTING POWER
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BENEFICIALLY
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OWNED BY
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849,999
(1)
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EACH
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9
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SOLE DISPOSITIVE POWER
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REPORTING
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PERSON
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0
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WITH
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10
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SHARED DISPOSITIVE POWER
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0
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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849,999
(1)
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12
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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13.1%
(1)
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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IC
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(1) Based on the 6,493,842 shares of Mercer Common Stock (as defined below)
outstanding as of November 30, 2010 as set forth in the Merger Agreement (as defined below). Pursuant to the Shareholder
Support Agreements described below, United Fire (as defined below) may be deemed to have beneficial ownership of Mercer
Common Stock on the record date of any vote at a shareholder meeting or through written consent for certain events as set
forth in the Shareholder Support Agreements. United Fire may be deemed to have beneficial ownership of 849,999 shares of
Mercer Common Stock if the record date were November 30, 2010. Neither the filing of this Schedule 13D nor any of its
contents shall be deemed to constitute an admission by United Fire that it is the beneficial owner of any shares of Mercer
Common Stock referred to herein for purposes of Section 13(d) of the Act, or for any other purpose, and such beneficial
ownership is expressly disclaimed.
2
Item 1. Security and Issuer.
This Schedule 13D (this
Schedule 13D
) relates to the common stock (
Mercer
Common Stock
) of Mercer Insurance Group, Inc., a Pennsylvania corporation (
Mercer
).
The principal executive offices of Mercer are located at 10 North Highway 31, Pennington, New
Jersey 08534.
Item 2. Identity and Background.
(a) (c) This Schedule 13D is being filed by United Fire & Casualty Company, an Iowa
corporation (
United Fire
). The address of the principal place of business and principal
office of United Fire is 118 Second Avenue, S.E., Cedar Rapids, Iowa 52407. The principal business
of United Fire and its subsidiaries is to provide insurance protection to individuals, businesses
and organizations through the sale of commercial insurance, personal insurance, life insurance and
surety bonds by a network of independent agents. United Fire and its subsidiaries are collectively
licensed as a property and casualty insurer in 43 states, plus the District of Columbia, and as a
life insurer in 28 states. The name, business address and present principal occupation or
employment of each executive officer and director of United Fire, and the name, principal place of
business and address of any corporation or other organization in which such employment is
conducted, are set forth on Schedule I hereto and incorporated herein by reference.
(d) (e) During the last five years, neither United Fire nor, to the knowledge of United
Fire, any of the persons listed on Schedule I: (i) has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors); or (ii) was a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction as a result of which United Fire or
any such person was or is subject to a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, federal or state securities laws or finding
any violation with respect to such laws.
(f) The citizenship of each executive officer and director of United Fire is set forth on
Schedule I.
Item 3. Source and Amount of Funds or Other Consideration.
As described in response to Item 4, the Shareholder Support Agreements (defined below) to
which this Schedule 13D relates have not been purchased by United Fire, and thus no funds were used
for such purpose. As an inducement for United Fire to enter into the Merger Agreement described in
Item 4, each of the Signing Shareholders (as defined below) entered into a Shareholder Support
Agreement, dated as of November 30, 2010, with United Fire with respect to the Subject Shares (as
defined below). United Fire did not pay additional consideration to the Signing Shareholders in
connection with the execution and delivery of the Shareholder Support Agreements. For a
description of the Shareholder Support Agreement, see Item 4 below, which description is
incorporated herein by reference in response to this Item 3.
Item 4. Purpose of Transaction.
As an inducement for United Fire to enter into the Merger Agreement (as defined below) each of
the Signing Shareholders entered into a Shareholder Support Agreement. The purpose of the
Shareholder Support Agreements is to facilitate the transactions contemplated by the Merger
Agreement.
3
Agreement and Plan of Merger
On November 30, 2010, United Fire, entered into an Agreement and Plan of Merger (the
Merger Agreement
) with Mercer and Red Oak Acquisition Corp., a Pennsylvania corporation
and wholly owned subsidiary of United Fire (
Acquisition Corp.
). The Merger Agreement
provides, among other things, that, upon the terms and subject to the conditions set forth in the
Merger Agreement, Acquisition Corp. will merge with and into Mercer, with Mercer surviving as a
wholly owned subsidiary of United Fire (the
Merger
).
Subject to the terms and conditions of the Merger Agreement, which has been unanimously
approved and adopted by the boards of directors of each of United Fire and Mercer, at the effective
time of the Merger (the
Effective Time
), each share of Mercer Common Stock issued and
outstanding immediately prior to the Effective Time (other than shares of Mercer Common Stock held
in the treasury of Mercer or by any subsidiary of Mercer and any shares of Mercer Common Stock
owned by United Fire or any wholly owned subsidiary of United Fire), including any allocated and
unallocated shares held by the Mercer Employee Stock Ownership Plan, and any shares of restricted
stock, will be automatically cancelled and converted into the right to receive $28.25 in cash (the
Cash Consideration
), without interest.
In connection with the Merger, each outstanding option to purchase Mercer Common Stock
(
Mercer Stock Option
), whether or not vested and exercisable, will, at the Effective
Time, be cancelled and converted into the right to receive the product of (i) the number of shares
of Mercer Common Stock that would have been acquired upon the exercise of such Mercer Stock Option,
multiplied by (ii) the excess, if any, of the Cash Consideration over the exercise price to acquire
a share of Mercer Common Stock under such Mercer Stock Option (the
Option Consideration
),
subject to any applicable withholding taxes.
The closing of the Merger is subject to certain conditions, including, among others, (i)
approval and adoption by Mercer shareholders of the Merger Agreement, (ii) applicable insurance
regulatory approvals, (iii) the expiration or termination of the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act, (iv) the absence of any law or court or governmental
order or injunction prohibiting, restraining or enjoining consummation of the Merger, (v) subject
to materiality exceptions, the accuracy of the representations and warranties made by United Fire
and Mercer, and compliance by United Fire and Mercer with their respective obligations under the
Merger Agreement, and (vi) no event, occurrence, fact, condition, effect, change or development
shall have occurred that, individually or in the aggregate, has, or would reasonably be expected to
have, a material adverse effect on Mercer and its subsidiaries, taken as a whole, or on the ability
of Mercer to consummate the transactions contemplated by the Merger Agreement.
4
Each of United Fire and Mercer has made representations and warranties in the Merger
Agreement. Mercer has agreed to certain covenants and agreements, including, among others, (i) to
conduct its business in the ordinary course of business, consistent with past practice, during the
period between the execution of the Merger Agreement and the closing of the Merger, (ii) not to
solicit alternate transactions, enter into discussions, or enter into any agreement concerning, or
provide confidential information in connection with, any proposals for alternative transactions,
subject to a customary fiduciary-out provision which allows Mercer under certain
circumstances to provide information to and participate in discussions with third parties
prior to the approval of the Merger by Mercers shareholders, with respect to unsolicited
alternative acquisition proposals that Mercers Board of Directors has determined, in its
reasonable good faith judgment, if consummated would be more favorable, from a financial point of
view, to Mercers shareholders than the Merger and that such proposal is reasonably capable of
being completed within a substantially similar period of time as the Merger (a
Superior
Proposal
), and (iii) to call and hold a special shareholders meeting and recommend adoption
of the Merger Agreement.
The Merger Agreement contains specified termination rights for both United Fire and Mercer.
Among other termination rights, Mercer may terminate the Merger Agreement prior to the date on
which the shareholders of Mercer approve the Merger if the Board of Directors of Mercer determines
that it would, in the reasonable good faith judgment of Mercers Board of Directors, violate its
fiduciary duties under applicable law to recommend approval of the Merger or the Merger Agreement
(or if such recommendation is withdrawn) as a result of the receipt of a Superior Proposal. In
connection with such termination, Mercer must pay United Fire a $6,685,000 fee. In addition,
Mercer may also be obligated to pay a fee of $6,685,000 or to reimburse United Fire for its
expenses incurred in connection with the Merger Agreement, up to $500,000, if the Merger Agreement
is terminated under certain other specified circumstances.
As a material inducement to United Fire entering into the Merger Agreement, Andrew R. Speaker,
President and Chief Executive Officer, David B. Merclean, Senior Vice President of Finance and
Chief Financial Officer, Paul D. Ehrhardt, Senior Vice President, Chief Underwriting Officer and
Corporate Secretary and Paul R. Corkery, Senior Vice President and Chief Information Officer
(collectively, the
Executives
) have entered into agreements to terminate their existing
employment agreements with Mercer and certain of its subsidiaries at the Effective Time (the
Employment Termination Agreements
) substantially in the form attached to the Merger
Agreement, pursuant to which Mercer will make a cash payment to each such Executive in an amount
equal to 100% of the change in control payments due to each such Executive under their current
employment agreements in the event such executive terminated his employment with Good Reason (as
defined in the applicable existing employment agreement) at the Effective Time. In addition,
Mercer has adopted a retention plan in the form attached to the Merger Agreement (the
Senior
Management Retention Plan
) pursuant to which Mssrs. Speaker, Merclean, Ehrhardt and Corkery
will provide services to the surviving company on a transition basis following the Merger in
exchange for payments on each of the three, six and nine month anniversaries of the Effective Time.
The foregoing summary of the Merger Agreement, the Employment Termination Agreements, the
Senior Management Retention Plan and the transactions contemplated thereby contained in this Item 4
does not purport to be a complete description and is qualified in its entirety by reference to the
terms and conditions of the Merger Agreement, the form of Employment Termination Agreement, and the
Senior Management Retention Plan, copies of which are attached as Exhibit 1, and incorporated
herein by reference.
5
The Merger Agreement has been included in this communication to provide investors and
shareholders with information regarding its terms. It is not intended to provide any other factual
information about United Fire, Acquisition Corp. or Mercer. The representations, warranties and
covenants contained in the Merger Agreement (i) have been made only for purposes of the Merger
Agreement, (ii) are subject to materiality qualifications contained in the Merger Agreement which
may differ from what may be viewed as material by investors, (iii) were made only as of the date of
the Merger Agreement or such other date as is specified in the Merger Agreement, and (iv) may be
subject to limitations agreed upon by the contracting parties, including being qualified by
confidential disclosures made for the purposes of allocating contractual risk between the parties
to the Merger Agreement instead of establishing these matters as facts. Accordingly, the Merger
Agreement is included with this filing only to provide investors with information regarding the
terms of the Merger Agreement, and not to provide investors with any other factual information
regarding the parties or their respective businesses. Investors are not third-party beneficiaries
under the Merger Agreement and should not rely on the representations, warranties and covenants or
any descriptions thereof as characterizations of the actual state of facts or condition of United
Fire, Acquisition Corp. or Mercer or any of their respective subsidiaries or affiliates. Moreover,
information concerning the subject matter of the representations and warranties may change after
the date of the Merger Agreement, which subsequent information may or may not be fully reflected in
United Fires or Mercers public disclosures.
Shareholder Support Agreements
Concurrently, and as a material inducement to United Fire entering into the Merger Agreement,
Mercers directors and certain of its officers (collectively, the
Signing Shareholders
),
each solely in his or her capacity as shareholder of Mercer, entered into Shareholder Support
Agreements with United Fire (the
Shareholder Support Agreements
) with respect to their
respective shares of Mercer Common Stock (the
Subject Shares
) and Mercer Stock Options.
Based on Mercers representation in the Merger Agreement that 6,493,842 shares of Mercer Common
Stock were issued and outstanding as of November 30, 2010, the Subject Shares constituted
approximately 13.1% of the total issued and outstanding shares of Mercer Common Stock as of
November 30, 2010. Pursuant to the Shareholder Support Agreements, the Signing Shareholders have
agreed to appear or otherwise cause to be cast and to vote, or cause to be voted, the Subject
Shares in favor of the approval of the Merger Agreement and the transactions contemplated thereby
and against any merger agreement or merger (other than the Merger Agreement and the Merger),
consolidation, combination, sale of substantial assets, reorganization, recapitalization,
dissolution, liquidation or winding up of or by Mercer or any of its subsidiaries or any other
Acquisition Proposal
as defined in the Merger Agreement, or any amendment of Mercers
Charter or Bylaws or other proposal that would in any manner impede, frustrate, prevent or nullify
the Merger, the Merger Agreement or any of the other transactions contemplated by the Merger
Agreement or change in any manner the voting rights of any class of capital stock of Mercer.
6
In the Shareholder Support Agreements, the Signing Shareholders have agreed not to, on or
after the date of the Shareholder Support Agreements, among other things, (i) sell, transfer,
pledge, assign, otherwise dispose of or otherwise encumber any of the Subject Securities (as
defined in the Shareholder Support Agreements), or (ii) enter into any voting arrangement, whether
by proxy, voting agreement or otherwise, in relation to any of the Subject Securities, other than
the Shareholder Support Agreements (subject to certain limited exceptions and provided that the
transferee agrees in writing to be bound by the terms of the Shareholder
Support Agreement). The Signing Shareholders also have agreed not to take any action that
Mercer is prohibited from taking under the Merger Agreement with respect to the solicitation of
alternative transaction proposals. The Shareholder Support Agreements will terminate upon the
earliest to occur of (a) the termination of the Merger Agreement in accordance with its terms, and
(b) the approval of the Merger and the Merger Agreement by the requisite vote of the shareholders
of Mercer at the Mercer shareholder meeting.
The foregoing summary of the Shareholder Support Agreements and the transactions contemplated
thereby contained in this Item 4 does not purport to be a complete description and is qualified in
its entirety by reference to the terms and conditions of the form of Shareholder Support Agreement,
a copy of which is attached as Exhibit 2, and incorporated herein by reference.
Except as set forth in this Schedule 13D, the Merger Agreement and the Shareholder Support
Agreements, neither United Fire, nor to United Fires knowledge, any person named on Schedule I has
any present plans which relate to or would result in any of the actions specified in clauses (a)
through (j) of Item 4 of Schedule 13D, except for (i) the delisting of the Mercer Common Stock from
The NASDQ Global Market, (ii) the Mercer Common Stock becoming eligible for termination of
registration pursuant to Section 12(g)(4) of the Act, and (iii) a change to the present dividend
policy of Mercer.
Item 5. Interest in Securities of the Issuer.
(a) Pursuant to the Shareholder Support Agreements, United Fire may be deemed to have
beneficial ownership of 849,999 shares of Mercer Common Stock. Based on Mercers representation in
the Merger Agreement that 6,493,842 shares of Mercer Common Stock were issued and outstanding as of
November 30, 2010, United Fire may be deemed to have beneficial ownership of 13.1% of the Mercer
Common Stock if the record date were November 30, 2010. To United Fires knowledge, no shares of
Mercer Common Stock are beneficially owned by any of the persons named on Schedule I.
(b) Pursuant to the Shareholder Support Agreements, United Fire may be deemed to have shared
power to vote or direct the vote of 849,999 shares of Mercer Common Stock held by the Signing
Shareholders.
(c) Neither United Fire nor, to its knowledge, any person named on Schedule I, has effected
any transaction in Mercer Common Stock during the past 60 days.
(d) Not applicable.
(e) Not applicable.
7
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the
Issuer.
Other than as described in Items 3, 4 and 5 and the agreements incorporated herein by
reference and set forth as exhibits hereto, to the knowledge of United Fire there are no contracts,
arrangements, understandings or relationships (legal or otherwise) among any of the persons
named in Item 2 and between such persons and any person with respect to any securities of Mercer,
including but not limited to the transfer or voting of any of the securities, finders fees, joint
ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or
losses, or the giving or withholding of proxies or any pledge or contingency, the occurrence of
which would give another person voting or investment power over the securities of Mercer.
Item 7. Material to be Filed as Exhibits.
The following documents are filed as exhibits:
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Exhibit Number
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Description of Exhibits
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1
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Agreement and Plan of Merger, dated as of November 30, 2010, among United Fire, Acquisition
Corp. and Mercer, including the exhibits attached thereto (incorporated herein by reference to
Exhibit 2.1 to United Fires Current Report on Form 8-K filed with the Securities Exchange
Commission on November 30, 2010).
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2
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Form of Shareholder Support Agreement, dated as of November 30, 2010, by each of the
following individuals: Andrew R. Speaker (President and Chief Executive Officer), David B.
Merclean (Senior Vice President of Finance and Chief Financial Officer), Paul D. Ehrhardt
(Senior Vice President, Chief Underwriting Officer and Corporate Secretary), Paul R. Corkery
(Senior Vice President and Chief Information Officer), George T. Hornyak, Jr. (Director),
Samuel J. Malizia (Director), Roland D. Boehm (Director), H. Thomas Davis, Jr. (Director),
William V.R. Fogler (Director), William C. Hart (Director), Richard U. Niedt (Director),
Richard J. Chichester (Vice President of Marketing), Lawrence J. Crawford (Vice President of
Claims, East Coast), Gordon A. Coleman (Treasurer, East Coast), Debra J. Johnstone (Director
of Human Resources, East Coast), John Hollingshead (Vice President of Legal), Artur A. Terner
(Vice President of Finance), Charles Wardlaw (Vice President of Claims, West Coast), Edward
Paoletti (Vice President of Underwriting, West Coast) and Raymond E. Dudonis (Vice President
of Underwriting, East Coast) (incorporated herein by reference to Exhibit 10.1 to United
Fires Current Report on Form 8-K filed with the Securities Exchange Commission on November
30, 2010 and United Fires Current Report on Form 8-K/A filed with the Securities and Exchange
Commission on December 9, 2010).
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the
information set forth in this statement is true, complete and correct.
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Date: December 9, 2010
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UNITED FIRE & CASUALTY COMPANY
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By:
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/s/ Randy A. Ramlo
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Name:
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Randy A. Ramlo
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Title:
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President / Chief Executive Officer
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9
SCHEDULE I
United Fire
Directors and Executive Officers
Except as indicated below, each persons business address is c/o United Fire & Casualty
Company, 118 Second Avenue, S.E., Cedar Rapids, Iowa 52407, and, except as noted below, each such
person is a United States citizen.
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Name
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Position
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Present Principal Occupation
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Directors
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Jack B. Evans
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Chairman of the
Board
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Mr. Evans became Chairman
or our Board of Directors
in October 2009. He has
served us as a director
since 1995 and as Vice
Chairman from 1997 to 2009.
Mr. Evans currently holds
the position of President
of the Hall-Perrine
Foundation, a private
philanthropic corporation
located in Cedar Rapids,
Iowa. He has held that
position since 1996. From
1993 to 1995, he served as
President of SCI Financial
Group, a regional financial
services firm located in
Cedar Rapids providing
brokerage, insurance and
related services to its
clients.
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Mr. Evans currently serves
on the Board of Trustees of
199 registered investment
companies in the Nuveen
Funds fund complex. He has
served as a director of
Alliant Energy Corporation
of Madison, Wisconsin, and
as a director of the
Federal Reserve Bank of
Chicago. Mr. Evans is
currently President Pro Tem
of the Iowa Board of
Regents, overseeing the
states public university
system. Mr. Evans is a
member of the Audit
Committee and the
Nominating and Governance
Committee. He also serves
as Chair of United Fires
Executive Committee and on
the Investment Committee,
and is an independent
director as defined in the
listing standards of
NASDAQ.
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John A. Rife
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Vice Chairman of
the Board
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Mr. Rife served as
President of United Fire &
Casualty Company from 1997
to 2007 and as CEO from
2000 to 2007. Mr. Rife was
elected Vice Chairman of
our Board of Directors in
2009 and currently serves
on the Executive Committee.
Since 2006, Mr. Rife has
served on the Board of
Directors of QCR Holdings,
Inc., a multi-bank holding
company headquartered in
Moline, Illinois, that is
registered pursuant to
Section 12 of the Exchange
Act. He currently serves on
the QCR Holdings, Inc.
executive committee. He
also currently serves on
the board of trustees of
the United Way of East
Central Iowa, Mercy Medical
Center, and the Mount
Vernon Community School
District Foundation.
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Christopher R.
Drahozal
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Director
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Mr. Drahozal is the John M.
Rounds Professor of Law at
the University of Kansas
School of Law in Lawrence,
Kansas, where he has taught
since 1994. Prior to
teaching, Mr. Drahozal was
in private law practice in
Washington, D.C., and
served as a law clerk for
the Iran-U.S. Claims
Tribunal, the United States
Court of Appeals for the
Fifth Circuit and the
United States Supreme
Court. Mr. Drahozal
currently serves on the
Compensation Committee, the
Investment Committee and
the Risk Management
Committee, and is an
independent director as
defined in the listing
standards of NASDAQ.
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10
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Name
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Position
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Present Principal Occupation
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Thomas W. Hanley
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Director
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Mr. Hanley is a
full-time teacher at
Xavier High School, a
high school in Cedar
Rapids, Iowa. He began
teaching full-time in
2004. From 2002 to
2004, Mr. Hanley
conducted
post-graduate studies
in Theology at Loras
College in Dubuque,
Iowa. Mr. Hanley has
a strong financial,
insurance, and
business background,
having served from
1979 until 2003 as a
certified public
accountant (and as a
partner from 1983 to
2003) with McGladrey &
Pullen, LLP, a
national tax and
accounting firm. Mr.
Hanley has chaired
United Fires Audit
Committee since 2003,
and serves as an audit
committee financial
expert. He is an
independent director
as defined in the
listing standards of
NASDAQ.
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Douglas M. Hultquist
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Director
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Mr. Hultquist is the
President, Chief
Executive Officer, and
a director of QCR
Holdings, Inc., a
multi-bank holding
company he co-founded
that is headquartered
in Moline, Illinois,
and that is registered
pursuant to Section 12
of the Exchange Act.
From 1977 to 1993, Mr.
Hultquist was
associated as a
certified public
accountant (as a
partner from 1987 to
1993) with KPMG Peat
Marwick and McGladrey
& Pullen, LLP,
national tax and
accounting firms.
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Mr. Hultquist
currently serves on
the Risk Management
Committee, which he
chairs, and the
Investment Committee.
Mr. Hultquist is not
independent as defined
in the listing
standards of NASDAQ
and is not a member of
our Audit Committee;
however, he has the
professional and
business experience to
qualify as an audit
committee financial
expert.
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Casey D. Mahon
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Director
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Ms. Mahon is an
Adjunct Professor of
Law at the University
of Iowa College of
Law, Iowa City, Iowa,
where she has
periodically taught
business law since
1998. Ms. Mahon served
from 1986 to 1990 as
Senior Vice President
and General Counsel of
Teleconnect Company
and its successor,
Telecom USA, both of
which were registered
pursuant to Section 12
of the Exchange Act at
the time she was
employed by them. From
1993 until 1998 Ms.
Mahon served as Senior
Vice President and
General Counsel for
McLeodUSA, Inc., Cedar
Rapids, Iowa, then a
company registered
pursuant to Section 12
of the Exchange Act
that provided
integrated
communications
services to its
customers. Ms. Mahon
serves on the
Compensation Committee
and on the Risk
Management Committee.
Ms. Mahon also serves
as a member of the
Board of Directors of
the University of Iowa
Foundation, and is an
independent director
as defined in the
listing standards of
NASDAQ.
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George D. Milligan
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Director
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Mr. Milligan has
served as President of
The Graham Group,
Inc., of Des Moines,
Iowa since 1985. The
Graham Group, Inc.
consists of a real
estate firm
specializing in
developing office
buildings and a
construction firm
specializing in
constructing hospital
facilities. Since
2005, Mr. Milligan has
also served as a
director of West
Bancorporation, Inc.
of West Des Moines,
Iowa, a bank holding
company that is
registered pursuant to
Section 12 of the
Exchange Act. Mr.
Milligan previously
served as director of
Allied Life Insurance
Company. Mr. Milligan
chairs the Investment
Committee, and is an
independent director
as defined in the
listing standards of
NASDAQ.
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James W. Noyce
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Director
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Mr. Noyce is the
Senior Advisor and
Major Gifts Officer
for the Athletics
Department of Drake
University, a private
university in Des
Moines, Iowa. Mr.
Noyce previously
served as Chief
Executive Officer and
director of FBL
Financial Group, Inc.,
an insurance holding
company headquartered
in West Des Moines,
Iowa. Since August
2009, Mr. Noyce has
been a director of
West Bancorporation,
Inc., West Des Moines,
Iowa, a bank holding
company registered
pursuant to Section 12
of the Exchange Act.
Mr. Noyce serves on
the audit committee of
West Bancorporation,
Inc. He also serves on
several community
boards, including the
United Way of Central
Iowa, the Greater Des
Moines Partnership,
Grandview College,
Special Olympics Iowa,
and the Mid-Iowa
Council of Boy Scouts
of America. Mr. Noyce
serves on the Audit
Committee and is an
independent director
as defined in the
listing standards of
The NASDAQ.
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11
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Name
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Position
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Present Principal Occupation
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Mary K. Quass
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Director
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Ms. Quass is President
and Chief Executive
Officer of NRG Media,
LLC, Cedar Rapids,
Iowa, a position she
has held since 2002.
NRG Media, LLC is a
radio broadcasting
group of over 60
stations. Since 1998,
Ms. Quass has also
served as President
and Chief Executive
Officer of Quass
Communications, LLC, a
privately held
investment company.
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Ms. Quass currently
serves on the board of
directors of the
National Association
of Broadcasters, Mercy
Medical Center
(executive committee),
Entrepreneurial
Development Center,
Inc. (chair), US Bank
(Cedar Rapids region),
the Quarton-McElroy
Broadcaster
Foundation, and other
local boards in Cedar
Rapids. Ms. Quass
serves on the
Compensation Committee
and Risk Management
Committee, and is an
independent director
as defined in the
listing standards of
NASDAQ.
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Kyle D. Skogman
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Director
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Mr. Skogman has served
as President of
Skogman Construction
Co. of Iowa, a company
that specializes in
residential
construction,
primarily in Cedar
Rapids, Iowa since
1990. Mr. Skogman
serves or has served
as director and Vice
Chairman of the Board
of Trustees of Mercy
Medical Center in
Cedar Rapids; as
director of the Cedar
Rapids Chamber of
Commerce and Chairman
of Priority One, an
economic development
arm of the Chamber;
and as director of
Brucemore, a public
historic site in Cedar
Rapids. Mr. Skogman
current serves on the
Audit Committee and on
the Nominating and
Governance Committee,
which he has chaired
for many years. He is
also a member of our
Executive Committee
and Investment
Committee. Mr.
Skogman is an
independent director
as defined in the
listing standards of
NASDAQ.
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Frank S. Wilkinson Jr.
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Director
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Mr. Wilkinson retired
in December 2000 from
E.W. Blanch Co., a
company in
Minneapolis, Minnesota
that provides risk
management and
distribution services
and arranges
reinsurance coverage
between insurers and
reinsurers. Mr.
Wilkinson previously
served on the Board of
Directors of Benfield
Group, Ltd. of London,
and on the Board of
Directors of Hub
International, Ltd. of
Chicago, Illinois.
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Mr. Wilkinson
currently serves on
and chairs United
Fires Compensation
Committee, and also
serves on the
Nominating and
Governance Committee.
Mr. Wilkinson is an
independent director
as defined in the
listing standards of
NASDAQ.
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Executive Officers
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Randy A. Ramlo
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President and Chief
Executive Officer
Director
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Mr. Ramlo was
appointed as United
Fires President and
Chief Executive
Officer in May 2007.
Mr. Ramlo previously
served as Chief
Operating Officer from
May 2006 until May
2007; as Executive
Vice President from
May 2004 until May
2007; and as Vice
President Fidelity
and Surety, from
November 2001 until
May 2004.
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12
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Name
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Position
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Present Principal Occupation
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Michael T. Wilkins
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Executive Vice
President, Corporate
Administration
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Mr. Wilkins became
United Fires
Executive Vice
President, Corporate
Administration, in May
2007. Mr. Wilkins was
United Fires Senior
Vice President
Corporate
Administration, from
May 2004 until May
2007; its Vice
President Corporate
Administration, from
August 2002 until May
2004; and the resident
Vice President in its
Lincoln, Nebraska
regional office from
1998 until 2002. Prior
to 1998, Mr. Wilkins
held various other
positions within
United Fire since
beginning his
employment with the
Company in 1985.
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Dianne M. Lyons
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Vice President and
Chief Financial
Officer
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Ms. Lyons was
appointed Chief
Financial Officer in
May 2006. She was
appointed Vice
President in May 2003
and served as
Controller from 1999
until May 2006. Ms.
Lyons has been
employed by United
Fire in the accounting
department since 1983.
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David E. Conner
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Vice President and
Chief Claims Officer
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Mr. Conner was
appointed Vice
President and Chief
Claims Officer,
effective January 1,
2005. Mr. Conner has
served in various
capacities within
United Fires claims
department, including
claims manager and
Assistant Vice
President, since
joining the Company in
1998.
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Barrie W. Ernst
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Vice President and
Chief Investment
Officer
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Mr. Ernst is Vice
President and Chief
Investment Officer. He
joined United Fire in
August 2002.
Previously, Mr. Ernst
served as Senior Vice
President of SCI
Financial Group, Cedar
Rapids, Iowa, where he
worked from 1980 to
2002. SCI Financial
Group was a regional
financial services
firm based in Cedar
Rapids, Iowa that
provided brokerage,
insurance and related
services to its
clients.
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Neal R. Scharmer
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Vice President,
General Counsel and
Corporate Secretary
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Mr. Scharmer was
appointed Vice
President and General
Counsel in May 2001
and Corporate
Secretary in May 2006.
He joined United Fire
in 1995.
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13
Mercer Insurance (NASDAQ:MIGP)
過去 株価チャート
から 10 2024 まで 11 2024
Mercer Insurance (NASDAQ:MIGP)
過去 株価チャート
から 11 2023 まで 11 2024