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About Sentry Insurance A Mutual Company

Sentry Insurance a Mutual Company (Sentry) offers property/casualty and life insurance products to customers throughout the US. The company's commercial offerings include auto, liability, workers' compensation, and businessowners coverage, as well as life policies and annuities. Sentry provides specialized insurance to businesses of all sizes, including manufacturers, retailers, and truckers. The company also offers employee benefit, investment, and retirement options for group accounts, and it provides personal auto and life insurance products. The mutual company is owned by its policyholders.

Operations

Sentry covers more than 1 million policyholders throughout the US. 

Its commercial insurance operations are conducted through seven divisions: National Accounts (large corporations), Standard Business Products (medium and small business customers), Dealer Operations (dealerships), Transportation (trucking insurance), Regional (field offices), Hortica (horticulture policies), and Life and Annuities.

The company's personal insurance division provides nonstandard auto and preferred motorcycle coverage under the Dairyland brand. Sentry also offers individual life policies.

The firm's property/casualty policies are underwritten by subsidiaries including Parker Centennial Assurance, Dairyland Insurance, Sentry Casualty, and Middlesex Insurance. Life insurance, pensions, and annuities are provided by Sentry Life Insurance Company and Sentry Life Insurance Company of New York. Its Sentry Equity Services unit offers mutual fund services.

Sentry had assets of $17.7 billion and a policyholder surplus nearing $5.5 billion as of the end of 2018. The company has received an A+ score from insurance credit rating agency AM Best for more than 25 years.

Geographic Reach

From about 20 field offices and its headquarters in Stevens Point, Wisconsin, Sentry serves customers in all 50 US states.

Sales and Marketing

Sentry sells its policies through a network of independent agents and brokers throughout the US; the company also uses some internal sales agents to promote its policies. Sentry serves business customers in construction, manufacturing, transportation, retail, distribution, and service industries, as well as individuals and families.

The firm works with industry trade groups to create specialized insurance programs. The Farm Equipment Manufacturers Association gives Sentry Insurance an exclusive endorsement as a recommended insurance provider.

Financial Performance

In fiscal 2018, Sentry reported $3.5 billion in revenue, a 6% increase over 2017 results. The company's growth came from a 7% increase in premiums, which account for most of sales, and a 3% increase in investment income. 

However, net income declined in 2018, falling 13% to $250.6 million due to higher claim and policyholder benefits and increased operating expenses.

Strategy

Sentry has expanded over the years by forming partnerships and affiliations with industry trade groups. It also grows through occasional acquisitions and product development efforts. 

The company is investing in improving its customer claims experience, career development programs, and technology and analytics systems. For instance, Sentry enhanced its workers' compensation analytics program in 2019; the system uses predictive models to help claims evaluators make more accurate and timely assessments. The firm also recently launched Sentry University labs at its regional offices to provide training and professional development opportunities to employees.

The company opened a new building at its headquarters campus in Stevens Point, Wisconsin, in 2019 to accommodate business growth and reflect its workforce development and technology investments.

Like other property/casualty insurers, Sentry is struggling with an increase in catastrophe losses in recent years from wildfires, hurricanes, and other weather-related or man-made events. Challenges also come from increasing injury costs in commercial auto policies, which the company attributes to distracted driving, more congested roadways, and distracted walking, among other factors.

To help prepare against larger-than-usual claims volumes, Sentry must make sure that it sets aside sufficient reserves. The company avoids exposure to specific market challenges by maintaining a diverse portfolio of insurance offerings and geographic operations.

Sentry Insurance A Mutual Company

1800 NORTHPOINT DR
Stevens Point, WI 54481-1283
Phone: 1 (715) 346-6000

Stats

Employer Type: Privately Owned
VP and CFO: Dewey A. Gantz
Chairman, President, and CEO: Pete G. McPartland
SVP and CIO: James D. Stitzlein
Employees (This Location): 1,388
Employees (All Locations): 4,830

Major Office Locations

Stevens Point, WI

Other Locations

Martinez, CA
Oceanside, CA
Fort Collins, CO
Cohutta, GA
Davenport, IA
Belleville, IL
Westford, MA
Stacy, MN
Hillsboro, MO
Saint Charles, MO
New Brunswick, NJ
Whippany, NJ
Cincinnati, OH
Keizer, OR
Sevierville, TN
Amarillo, TX
Crosby, TX
San Antonio, TX
Salt Lake City, UT
Brookfield, WI
Milwaukee, WI
Plover, WI
Stevens Point, WI
West Bend, WI