Midwest Family Mutual Achieves Financial Size Category VIII icon

Midwest Family Mutual Insurance Company (MFM) is proud to announce that it has achieved a Financial Size of FSVIII (Size 8). A Financial Size Category of VIII (Size 8) is provided to insurance companies carrying a surplus of $100M to $250M. With a reported surplus of just over $102M on June 30, 2019, AM Best upgraded the company's financial size.

Despite significant storm activity in the 3rd quarter, we were able to maintain our surplus on the backs of strong investment returns. An estimated surplus of $102M will be reported as of September 30, 2019 with a YTD combined ratio of approximately 99. With diminished storm activity in the 4th quarter, we expect that combined ratio to drop and the equity portion of our balance sheet to grow thereby strengthening our financial position and ensuring a Financial Size Category VIII for the foreseeable future.

Our new Financial Size affords us the opportunity to pursue new avenues of growth. Our nation's tort system puts a heavy economic burden on business owners and litigious trends are worsening. As such, risk managers are continually assessing the financial capacity of their risk transfer. More and more, contractors and other business owners are signing contracts that require insurance with companies that meet certain financial requirements such as Financial Size Category. As the bar is raised, MFM has positioned itself to be a market of choice for these commercial customers by providing financial stability with a more regional touch. Our strong capital position also provides additional piece of mind for high net worth customers that opt for our First Class Portfolio (FCP) product. The FCP provides enhanced coverages to insure homes, autos, boats, jewelry, and other assets. Optional flood, earthquake and other endorsements allow us to tailor additional coverage to our customers' needs. For these reasons, it's no wonder that Independent Agents have been recommending MFM to their customers since 1891.

I'm hopeful that a Financial Size Category VIII (Size 8) will be perceived by our Independent Agents as just another reason to recommend MFM to their valuable customers. A special thank you to all of our Agents and Policyholders for their continued contributions to our success. Your continued support along with the hard work of our MFM employees is a primary contributing reason for this Financial Size upgrade. In addition, our recognition by Ward's as a Top 50 carrier in the category of Top Performing Property & Casualty Insurance Companies Practicing in the US is directly tied to our strong Independent Agency relationships.

Midwest Family Mutual is rated A- (Excellent) by AM Best, a rating it has held since 1994.

Aaron W. Boyd, MBA, CPCU, CIC
Executive VP & COO

Posted on Thursday, November 21 @ 16:09:19 -06:00
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Midwest Family Mutual Named to 2019 List of Ward's Top 50 Property Casualty Companies icon

Des Moines, IA - Midwest Family Mutual Insurance Company (MFM) is proud to announce that it has been named to the Ward's Top 50 Benchmark Group of top performing property & casualty insurance companies practicing in the US.

Ward Group is a Cincinnati, Ohio based consulting firm that specializes in the insurance industry. They annually review the financial results of over 3,000 property & casualty insurance companies to select the...

Posted on Monday, July 29 @ 14:42:31 -06:00
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Six Consecutive Years of Superior MFM Results!!! icon

To all Midwest Family Agencies: This past year was another year of record results for Midwest Family. Our written premiums grew by 9.5% to another record annual written of 172M. We are now doing business in 20 States in the Midwest, Southwest, and Northwest regions of our Nation. Ten years ago the vast majority of our business was written in only 2 Midwest states. Our business relationships with our agencies...

Posted on Wednesday, January 30 @ 11:27:28 -06:00
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Our Momentum Continues in the Third Quarter! icon

To all Midwest Family Agencies: Our results year to date continue to exceed our business plan for 2018. Our written premiums year to date have increased by 7.2%. A very big THANK YOU to all agents for your continued sales efforts this year. We sincerely appreciate your business.

Our YTD Combined Ratio is roughly 98 at this time. We had an unusually late August storm that somewhat hurt our 3rd...

Posted on Friday, October 05 @ 20:47:21 -06:00
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MFM's second quarter results exceed expectations! icon

To all MFM Agents: With 6 months down and 6 months to go, we are very pleased to report to you our year to date results. First of all, this has been a much quieter year of storm activity than last year was. By this time last year, our claims people were working 6 separate storm catastrophes across our entire operating territory. This compares to one relatively small storm this...

Posted on Wednesday, July 11 @ 09:48:19 -06:00
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