Mendota Insurance Company and Mendakota Insurance Company have completed relocating their corporate headquarters and changing their state of domicile from Minnesota to Tennessee, according to a statement from the Tennessee Department of Commerce and Insurance.
The insurance companies, which offer automobile insurance to harder-to-insure customers, began selling policies in Tennessee in August. In anticipation of selling policies in the state, the companies transferred 50 existing jobs to Tennessee and leased 11,000 square feet of office space in Nashville.
â€œIâ€™m pleased to see two more companies choosing to put down roots in our great state and move their corporate headquarters to Tennessee,â€ said Gov. Bill Lee. â€œThis decision showcases that our unmatched business climate and talented workforce make it an ideal location for companies to do business.â€
Mendota Insurance Company and Mendakota Insurance Company President Steve Harrison said the move is a key component to its growth strategy.
During the next 12 months, an additional 15 new jobs will be created by the companies. Tennessee will be the ninth state where the insurance carriers will offer products through independent agents. The companiesâ€™ written premiums are projected to be $130 million for 2020.
Source: Tennessee Department of Commerce & Insurance
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