FX.co ★ ICC Holdings: Stilwell Rejects Settlement Offer

ICC Holdings, Inc., the parent company of Illinois Casualty Company, recently announced that an offer to include their principal and director nominee, Joseph Stilwell, on the ICC Holdings Board was turned down by the Stilwell Group. In addition to expanding the Board to 10 members, the company had also offered to incorporate Stilwell into the Board's Investment Committee, which would oversee a review of the company's investment portfolio fees and costs. This attempt was made with the intention to prevent the potential monetary burden and disruptions caused by a proxy contest.

Nonetheless, the Board expressed their disappointment that Stilwell declined the proposal — particularly because it grants him precisely what he is advocating for: a spot on the ICC Holdings Board. The Board, which encompasses our most prominent shareholder and collectively owns roughly 20% of the company's stocks, remains devoted to safeguarding all shareholders and striving for a constructive resolution.