On May 13, 2024, ICC Holdings, Inc. announced that the Stilwell Group rejected an offer by the Company to add its principal and director nominee, Joseph Stilwell, to the Company and expand the Board to 10 members. The Company stated that it made this offer in an attempt to avoid the costs and distractions associated with a proxy contest. The Company remains confident the current Board has the right mix of skills and experience to deliver shareholder value.

the company also stated that in addition to appointing him to the Board, the Company?s offer included adding Stilwell to the Board?s Investment Committee and having that committee conduct a review of the Company?s investment portfolio fees and costs, per Stilwell?s request. The Company also stated that the Board will still carry out this review, which is part of its regular oversight responsibilities. Further, the Company encouraged the shareholders to protect their investment by voting online, by phone or by mail, for current directors James R. Dingman, John R. Klockau, and Gerald J. Pepping using the Company proxy card.