Indy-based insurer will move to Carmel

By Brittany Muncy

INDIANAPOLIS – Insurance company Baldwin & Lyons announced Monday it will move its headquarters from Indianapolis to Carmel.

The company plans to invest $20 to $30 million to purchase and improve a new facility that could create up to 133 new jobs in Indiana by 2018.

Joe Devito, president and chief executive officer of Baldwin & Lyons, said in a statement, “As we very carefully reviewed our options related to a new headquarters, we continued to remain extremely proud of out Hoosier heritage.”

Baldwin & Lyons has been in Indianapolis since 1930 when it was founded. The company specializes in property and casualty insurance products and in 2012 set records as a company for both revenue and profit.

The Indiana Economic Development Corporation offered the company $3.5 million in conditional tax credits and $200,000 in training grants, which are payable only if jobs are created.

The company plans to hire new insurance professionals by the end of the year, which will add to the 350 Hoosiers that Baldwin & Lyons already employs.

Brittany Muncy is a reporter for, a news website powered by Franklin College journalism students.

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One Response to Indy-based insurer will move to Carmel

  1. Grim is correct. How many of those peploe didn’t have insurance. In my opinion, if you didn’t carry coverage, you don’t deserve the government cheese.My sister’s summer home, which she purchased a little over a year ago in Brigantine, is seriously damaged. Guess what, she’s getting a brand new home to replace her POS bungalow. Pretty good deal for her. If the government was efficient, they would see to it that those in need would receive and those not wouldn’t. This is the same government that instituted the HOV requirement for the tunnel that that cost nearly every commuter in North Jersey an unnecessary 2-hour delay after Sandy. I’m sure my sister will get plenty of FEMA dollars. Let’s expand the program!!!