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Dateline Wausau: Employers Insurance hits half-billion mark in 1967

4:12 PM, May 16, 2013  |  Comments
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1967: Employers Insurance passes half-billion mark

1967 was a good year for Employers Insurance of Wausau, the predecessor company of Wausau Insurance and a major player in local economic history through the 1900s.

The company "passed the half-billion dollar mark in net assets for the first time during the first four months of 1967," reported the Wausau Daily Record-Herald on May 20 that year.

J. Mearl Sweitzer, president of the Employers Insurance board of directors, reported at a board meeting that net premium income reached $99 million for the first quarter, a 14 percent increase over the same period the previous year.

The new affiliate Employers Life Insurance Co. had $219 million worth of life insurance in force at the time, just 21 months after its first offering.

Employers Mutual Liability Insurance formed in September 1911 after the state passed the country's first workers' compensation law. The fledgling company nearly folded, but began to grow exponentially after new leadership in 1915 emphasized industrial safety, according to Michael Kronenwetter in "The Story of Wausau and Marathon County."

The company built a new headquarters, now Wausau's City Hall, in 1940, and kept on expanding into new buildings on the city's west side.

Liberty Mutual bought Wausau Insurance in 1999 and ended the Wausau brand a decade later.

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