Ixonia Mutual Insurance Co. and Watertown Mutual Insurance Co. are expected to merge Jan. 1. The new company, to be known as Forward Mutual Insurance Co., will serve nearly 5,000 policyholders with more than $860 million in insurance coverage in 16 counties in southern Wisconsin.

The merger will occur pending a Dec. 12 joint policyholders meeting under a plan already approved by the Wisconsin Commissioner of Insurance as a way to consolidate two operations just seven miles apart, company officials said.

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