Grinnell Mutual is a mutual reinsurance company based in Grinnell, Iowa, United States. The company operates in 15 states.
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Business performance
On February 6, 2018, A.M. Best issued an 'A' (Excellent) rating for financial strength and an 'a' with a positive outlook long-term issuer credit rating for Grinnell Mutual. This was the 27th consecutive year Grinnell Mutual received an 'A' rating for financial strength. Grinnell Mutual is the 109th largest property-casualty insurance company in the U.S.
Grinnell Mutual is the largest direct reinsurer of farm mutual companies in North America. With its member mutuals, it has over $1 Billion in combined written premium and $132 Billion insurance in force.
In 2014, Grinnell Mutual was one of first six companies investing in the Global Insurance Accelerator, the first startup accelerator for insurtech. In 2016, it was one of the first seven companies investing in the Iowa AgriTech Accelerator, an agtech startup accelerator based in Des Moines, Iowa.
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History
In business since 1909, Grinnell Mutual is the 109th-largest property casualty insurance company in the United States and the largest primary reinsurer of farm mutual companies in North America. The company provides reinsurance for farm mutual insurance companies as well as property and casualty insurance. Its products are available in 15 states.
In 1909, the company was formed in Greenfield, Iowa as "Iowa Farmers Mutual Reinsurance Association" by John Evans to provide reinsurance for county mutuals in Iowa. In 1933, the company moved to Grinnell, Iowa, and changed its name to "Farmers Mutual Reinsurance Association". The name changed again in 1948 to "Farmers Mutual Reinsurance Company". The current legal name, "Grinnell Mutual Reinsurance Company," was adopted in 1963. The company adopted the "Grinnell Mutual" and "Grinnell Re" brands in 2017.
Awards"
In addition to its 'A' rating from A.M. Best, Grinnell Mutual has been recognized as an Iowa Top Workplace for seven consecutive years.
Grinnell Select Insurance Company, a subsidiary of Grinnell Mutual, was named the Number One Best Value for auto insurance in North Dakota and Missouri for the year 2016.
Related Companies
- Grinnell Specialty Agency - Other lines of insurance
- Grinnell Select - An auto insurance provider
References
Grinnell Select Insurance Company named #1 Best Value for auto insurance for North Dakota and Missouri for the year 2016.|URL= https://www.streetinsider.com/Press+Releases/Grinnell+Select+Insurance+Wins+ValChoice+Award+for+%231+Best+Value+for+Car+Insurance/13159693.html.
External links
- Grinnell Mutual Homepage
- A.M. Best Rating Services analysis
- Iowa Insurance Division Examination Report
- Iowa Insurance Division Market Conduct Examination Report
Source of the article : Wikipedia
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