About Grinnell Mutual Reinsurance Co

Grinnell Mutual Reinsurance, part of the Grinnell Mutual Group, reinsures some 300 smaller farm mutual insurance companies across the Midwest. It also provides basic property/casualty insurance products including commercial, farm, and personal coverage. Along with reinsurance, it provides its farm mutual customers with such special services as sharing the cost of training and paying insurance adjusters. It also offers customized accounting and claims management software and maintains a special investigations unit. Grinnell Mutual Reinsurance was founded in 1909 to provide reinsurance for farm mutual insurers.

Geographic Reach

Grinnell Mutual is based in Grinnell, Iowa, and serves customers throughout the state. It also has operations in Illinois, Indiana, Minnesota, Missouri, Nebraska, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, and Wisconsin.

Sales and Marketing

Grinnell Mutual's products are sold through a network of some 1,600 independent agents in a dozen states.

Financial Performance

Grinnell Mutual's revenues increased 1% to $369 million in 2011 due to increased premiums from higher reinsurance rates, as well as from growth into new markets and increased personal coverage operations. Net income declined 79% to $1.1 million due to underwriting losses and loss adjustment expenses.

Strategy

Grinnell Mutual is working to expand its geographic presence by offering existing and new products in new service areas. It expanded its presence in the markets of Ohio and Oklahoma in 2011; it also began providing reinsurance contracts to mutual insurers in Pennsylvania that year.

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Grinnell Mutual Reinsurance Co

4215 Highway 146
Grinnell, IA 50112-8110
Phone: 1 (641) 269-8000
Fax: 1 (641) 236-2830

Stats

  • Employer Type: Private Mutual Company
  • Employees: 740

Major Office Locations

  • Grinnell, IA