Grinnell Mutual

Grinnell Mutual
Mutual
Industry Insurance, Reinsurance
Founded April 17, 1909
Headquarters Grinnell, Iowa, USA
Key people
 Jeff Menary, President & CEO
Number of employees
 820
Website grinnellmutual.com

Grinnell Mutual is a mutual reinsurance company based in Grinnell, Iowa, United States. The company operates in 19 states.

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.[1][2] It has received an 'A' rating from A.M. Best since 1976. It has been a Property-Casualty Ward’s 50® Company since 2016.[3]

Grinnell Mutual is the 111th 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,[4][5] the first startup accelerator for insurtech. In 2016, it was one of the first seven companies investing in the Iowa AgriTech Accelerator,[6][7] an agtech startup accelerator based in Des Moines, Iowa.

History

Grinnell Mutual, in business since 1909, is the 111th-largest property casualty insurance company in the United States and the largest primary reinsurer of farm mutual companies in North America. Our products are available in 19 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.[8] In 1933, the company moved to Grinnell, Iowa, and changed its name to "Farmers Mutual Reinsurance Association".[8] The name changed again in 1948 to "Farmers Mutual Reinsurance Company".[8] The current legal name, "Grinnell Mutual Reinsurance Company," was adopted in 1963.[8] 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[9] since 2011.[10]

Grinnell Select Insurance Company, a subsidiary of Grinnell Mutual, was named the Number One Best Value [11] for auto insurance in North Dakota and Missouri for the year 2016.

  • Grinnell Specialty Agency - Other lines of insurance[12]
  • 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.

  1. ↑ "Grinnell Mutual Reinsurance Company - Company Profile - Best's Credit Rating Center". ratings.ambest.com. Retrieved 2018-09-21.
  2. ↑ "Grinnell Mutual Reinsurance Company". A.M. Best Rating Services. A.M. Best Rating Services. Retrieved 2017-03-14.
  3. ↑ "Property-Casualty Ward's 50 Companies". Aon. 9/21/2018. Check date values in: |date= (help)
  4. ↑ "Global Insurance Accelerator - Des Moines, Iowa". www.globalinsuranceaccelerator.com. Retrieved 2018-04-23.
  5. ↑ "Grinnell Mutual Joins the Global Insurance Accelerator". Grinnell Mutual. Retrieved 2018-04-23.
  6. ↑ "Iowa AgriTech Accelerator - Des Moines, Iowa". www.agiowa.com. Retrieved 2018-04-23.
  7. ↑ "Grinnell Mutual, Kent Corporation, Sukup Manufacturing to invest in Accelerator, which will graduate first class at World Food Prize". Grinnell Mutual Reinsurance. Retrieved 2018-04-23.
  8. 1 2 3 4 "Our 100 years". Grinnell Mutual Reinsurance Company. Archived from the original on 15 March 2016. Retrieved 8 March 2016.
  9. ↑ "About Grinnell Mutual Reinsurance Company". Iowa Top Workplaces. The Des Moines Register. Retrieved 23 April 2018.
  10. ↑ "Grinnell Mutual Named Top Workplace for Eighth Consecutive Year". Grinnell Mutual. Archived from the original on 23 April 2018.
  11. ↑ https://www.streetinsider.com/Press+Releases/Grinnell+Select+Insurance+Wins+ValChoice+Award+for+%231+Best+Value+for+Car+Insurance/13159693.html. Missing or empty |title= (help)
  12. ↑ "Grinnell Specialty Agency". Grinnell Specialty Agency. Grinnell Mutual Reinsurance Company. Retrieved 14 March 2017.
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