Insurance & Financial Services
Farmers of Salem Relocates to Wilmington, DE BY WILLIAM A. DINE, AAI
FARMERS MUTUAL FIRE INSURANCE COMPANY, Farmers of Salem, will be relocating to Wilmington, Delaware in August of 2021. Like their new building at 1 Avenue of the Arts, Farmers of Salem, has a rich history beginning in 1851. With much growth and many changes over the years, Farmers is excited to start their next chapter in Wilmington. “Farmers of Salem has evolved from its origins as Farmers Mutual Fire Insurance Company of Salem County across three centuries,” said president, Jim Doherty. “Our move to Wilmington will add a 21st-century sensibility to our nearly 17 decades of service to our policyholders and our ongoing commitment to remaining innovative, competitive, and stable within the insurance marketplace.” The building at 1 Avenue of the Arts has long been a focal point for the Riverfront, dating back to approximately 1849. At that time, the building housed a machine shop established by J. Morton Poole. The property was later purchased by E. I Dupont de Nemours who had ownership until 1920.
In 1983, the property was purchased by Mitchell Associates and Moeckel Carbonell Associates i.e., Avenue of the Arts, LLC. This was the beginning of a new chapter for the Riverfront that has spanned 38 years and continues today. Much like their new building’s rich history, Farmers Mutual Fire Insurance Company was created on March 6, 1851 by an Act of Legislature. In April of 1851, prospective incorporators gathered at Camp’s Hotel in Salem, New Jersey officially enacting a company that became an integral part of the growth and development of Salem County. After 170 years in New Jersey, Farmers of Salem began to search for a 62
new location that would allow them to experience more significant growth. Upon visiting 1 Ave of the Arts, they began to see and feel the historic significance of the building, which mirrored Farmers’ 170- year history and made it the ideal place to call home. Since purchasing the building, Farmers of Salem has made major interior renovations, including adding a new sprinkler system to protect the building and its occupants, while maintaining the historical integrity of the building. Farmers of Salem looks forward to joining the Delaware Riverfront community in August of this year. Farmers of Salem provides insurance for home and business owners in Delaware, Maryland, New Jersey and Pennsylvania. The company is leader in the habitational insurance market, insuring single family homes, 1-4 family dwellings, apartment buildings and condominiums as well as mixed habitational risks. Insurance products are distributed through independent agents that serve as local experts and trusted advisors to their insureds. Farmers of Salem holds a rating of A- EXCELLENT from A.M. Best Co., an independent service that rates overall financial condition and operating performance of firms within the insurance industry. n
William A. Dine, AAI is the senior vice president of corporate operations at Farmers of Salem. For more information, visit farmersofsalem.com.
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| DELAWARE BUSINESS
