Atlantic Mutual
The famous Wall Street, New York City, New York, was the birthplace of Atlantic Mutual in 1842. The company came to be when a group of ship owners banded together to provide better protection for their investments. One and a half centuries later, Atlantic Mutual has grown into a formidable player in the insurance industry but still upholds the desire to attract and serve high quality clients.
Over the years, Atlantic Mutual has rendered insurance coverage for several local disasters and calamities. Just 11 years after its creation, it catered to the Great New York Waterfront Disaster of 1853. The sinking of the Titanic also resulted in claims from policy holders. In 1989, Hurricane Hugo led to insurance claims. In recent years, the terrorist attack of September 11, 2001 was Atlantic Mutual’s more memorable incident.
To bolster the company’s strength and position, Atlantic Mutual and Countrywide Insurance Group locked arms together in July 2005 to strengthen Countrywide Insurance Group’s “A” rating with the company’s select independent model. Plans were in place to develop the company’s trademark “Atlantic Master Plan” and attract well off customers with large assets. The Atlantic Master Plan is a comprehensive program that covers a range of assets, like homes, cars, watercraft and valuables, not to mention personal liability protection services.
During the acquisition and reorganization, then Atlantic Mutual president Dan Olmsted remarked, “We believe we have found a true strategic partner who supports our current business strategy and an excellent arrangement that will strengthen our position as an independent, premier writer of affluent personal lines. In particular, this alliance will allow our independent agents to offer the Atlantic Master Plan with the backing of both Atlantic Mutual and "A" rated property and casualty insurance companies of the Countrywide Insurance Group."
A little over two years since that fateful day, Atlantic Mutual’s personal liability services were taken over by the ACE Group of Companies. The acquisition included the Atlantic Master Plan and is still presently offered and administered by ACE Private Risk Services. The Plan is also underwritten by Countrywide Insurance Group and The Atlantic Companies.
