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MFM Announces Encouraging 9 Month Financial Results icon

MFM’s results continue to strengthen in a year in which we set a new record for storm losses. Our Claims staff has serviced 13 separate storm catastrophes in 2013 eclipsing our previous record of 11. We also set records for single claim severity this year as we incurred a single commercial hail claim in excess of 1M and a lightning and ensuing fire loss to a home that exceeded 1.3M. Almost all of these storm claims have been closed and in most instances open claims are only awaiting roof replacements to occur. Thank you to all of our Agents who have sent a “thank you” for the responsive claims service this year. We appreciate your feedback and do take our claims service very seriously.

Our Combined Ratio, the industry’s standard of financial performance, is at 99 as we end our third quarter. Our fourth quarter is usually a quieter quarter and as such we are very pleased with where we are at this point of the year. MFM continues to be a very efficient provider of insurance as our expense ratio has improved to just below 24%. Our expense ratio compares favorably to most any Company in the industry.

Premiums through September 30 have grown by 9.2% compared to this same period of 2012. Our relationship with our Agents continues to be strong. We are always grateful when you recommend Midwest Family coverage to your customers. We will always work hard to earn your business and that of your customers.

We are optimistic about finishing the year strong. The fourth quarter is traditionally a very quiet quarter as our storm season subsides. Before long the Holidays will be upon us. Enjoy them! Thanks so much for your business. Always know we appreciate it.

Best regards,

Ron Boyd, CPCU
President and CEO

Posted on Monday, October 07 @ 12:28:42 -06:00
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