J.M. Thompson Insurance, McGowan Insurance Group announcing merger


The Crawfordsville/Montgomery County Chamber of Commerce hosted a ribbon cutting Friday to celebrate J.M. Thompson Insurance and McGowan Insurance Group announcing a landmark merger, bringing together two industry-leading organizations to create a new and dynamic business entity. The combined company will operate under the name McGowan Insurance Group, establishing itself as a dominant force in the market.

The merger between J.M. Thompson Insurance and McGowan Insurance Group marks a strategic move to leverage their respective strengths, resources and expertise to better serve their customers and stakeholders. By joining forces, McGowan Insurance will unlock significant synergies and create a platform for innovation, growth and enhanced value proposition.

As part of the merger agreement, McGowan will retain key leadership from both companies, ensuring a seamless transition and a strong foundation for future success. The merger will result in an expanded product and service portfolio, providing customers with an even broader range of solutions in the areas of risk management, compliance, and safety management, in addition to a deeper insurance product offering. 

“This merger is a significant milestone for both companies, representing a strategic alignment of our visions and goals,” said Monte Thompson of J.M. Thompson Insurance.  “Together, we will build on our collective strengths to drive innovation, deliver exceptional value to our customers, and create new opportunities for our employees.”

“The merger presents an exciting opportunity for our organizations and the market we serve,” said Hugh McGowan of McGowan Insurance Group. “We have a rich history of putting our client’s interests first and the J.M. Thompson team will help to continue that focus and position us very well into the future.” 

JMTI has been operating on South Washington Street in Crawfordsville since 1978. They have provided coverage for businesses, farms, homes, vehicles, as well as life and health benefits to central Indiana while volunteering and giving back to the community

MIG is an Indiana-based agency providing insurance, risk management and financial services. Founded in 1930, McGowan actively operates throughout the United States.