Indiana-based property-casualty insurance provider would become an affiliate of Main Street America.

Main Street America Group has declared that Grain Dealers Mutual Insurance, an Indiana-based property-casualty insurance company, will become an affiliate of Main Street America.

The agreement, which has been approved by the boards of directors of both the companies, is subject to regulatory approval from the State of Indiana Department of Insurance, projected in fourth quarter of 2009.

Don Malcom, president and CEO of Grain Dealers Mutual, will continue to oversee the company’s daily operations out of its Indianapolis headquarters. The company will also maintain its regional service office in Greensboro, North Carolina.

Tom Van Berkel, chairman, president and CEO of Main Street America Group, said: “Our affiliation with Grain Dealers Mutual will complement our 86 years of successfully serving our ‘Main Street’ independent agent-customers and their customers (policyholders). It will help us achieve our long-term strategy of sustained profitable growth by spreading risk and increasing scale through geographic diversification.”