Dan Agnew named to the Insurance Hall of Fame
Dan Agnew’s route to the Hall of Fame didn’t quite follow the path he imagined as a young boy growing up in Malcom and Grinnell, Iowa. Agnew, like most boys, loved sports and played ball with the neighborhood kids. He played football and basketball in high school. He even played football for the University of Northern Iowa. Dreams of playing professional ball fleetingly entered his mind.
Despite his interest in sports, Agnew chose a different path. A teacher and coach at Newton High School in the late 1960s, he applied for a job with Grinnell Mutual at the urging of a friend. After accepting Grinnell Mutual’s offer in 1969, Agnew spent the next 40 years with the company, including 19 as president and CEO. Under his leadership, Grinnell Mutual experienced the greatest growth in premium and surplus in the history of the company, while at the same time strengthening its position in the farm mutual industry. With the addition of new states to its territory, the company now stands as the largest primary reinsurer of farm mutuals in North America and ranks 129th among the top 200 property-casualty insurers in the U.S., according to Best’s Review.
Agnew assumed leadership of the company under difficult circumstances after the sudden departure of President Phil Yount in 1991. His ethical, compassionate, and confident leadership quickly calmed the concerns of directors and employees alike, earning him respect and admiration among his peers in the insurance industry as he set the company on the path to sustained profitability.
These are among some of the career highlights cited in nomination letters about Agnew addressed to the selection committee of the Iowa Insurance Hall of Fame, which evaluates potential nominees on standards including ethics and impact on the industry. Agnew is among five insurance industry leaders scheduled to be inducted into the Hall of Fame on May 21 in a ceremony at the Drake University Olmsted Center. He is among a select group of only 62 inductees since the Iowa Insurance Hall of Fame was established in 1997. The honor, which Agnew describes as “next to my family, one of my proudest achievements,” comes just months before Agnew’s retirement scheduled for the end of the year.
Yet, the path from small town boy to successful CEO was not straight, narrow, or easy. As the son of a widowed mother, Agnew learned at an early age the lessons of self-reliance, the importance of adult mentors, and the cherished value of family. The insights he gained during his turbulent childhood helped shape a resiliency that Agnew says prepared him for some of the toughest challenges he has faced as an adult.
Small town beginnings
The residents of Malcom were accustomed to the sight of young Danny Agnew running the cash register in the mornings at Marie’s Café. Agnew helped his mother with the breakfast rush in her restaurant before he went to school each day and after school he carried supplies from the storage room to the restaurant. Agnew lived on a farm south of Malcom until the age of four, when an accident claimed the life of his sister. Shortly afterward, the family moved into town where they opened up Agnew’s Café and lived in quarters attached to the business. His father passed away almost a year later. His mother renamed the restaurant and Agnew quickly learned about hard work and the kindness of others.
“People watched out for each other in Malcom. It’s a small community and people knew where the kids were and what they were doing,” said Agnew. “Whenever I was in the restaurant and needed my mother, all I had to do was pick up the phone, and the operator, Mrs. Robinson, always knew where she was.”
When Agnew was eight years old, he would visit his grandmother in Grinnell on weekends. A teacher would drive him to Grinnell after school on Fridays. Returning home on Sunday, his Grandma Schultz walked him to the train and the mailman would pick him up in Malcom when he picked up the mail off the train, delivering both to the post office located next to the café. If he returned on Monday morning, he caught an early morning ride with the milkman who made deliveries in Grinnell and then in Malcom. The milkman dropped Agnew off at school and then let his mother know when he stopped by with the café’s delivery.
“I learned when I was very young that I was going to have to rely on myself, charting my own course,” he said. “I wasn’t necessarily starting out on the right or wrong course, but with the right opportunity my attitude could have led me down a different path.”
When he was in fifth grade, Agnew and his mother moved to Grinnell where she took a job with Grinnell College and also in the hospital cafeteria. He started a paper route, played junior high sports, and joined Boy Scouts. Through his association with the Boy Scouts, Agnew met his first mentor, Scoutmaster Verle “Barney” Garwood, a man whose impact on his life is still evident.
“My life had been in turmoil up to that point. Somehow he grabbed me, got my attention and helped me see a better way. After that, things really started taking shape,” he said. “He worked with me until I became an Eagle Scout. He took me under his wing and provided me with a new set of expectations.”
The interest Garwood showed in the young Agnew was invigorating. Agnew’s enthusiasm led him to join other groups – DeMolay and Junior Kiwanis, plus he began to attend church regularly. He became president of the Grinnell High School senior class. He became a life guard at the pool, taught swimming lessons, managed the swimming pool, and ended up at UNI on a football scholarship. As he left UNI he was nominated as the most popular person on campus.
After graduating from UNI with a degree in education, Agnew returned to Grinnell, where he married Nancy Johnson and took teaching and coaching jobs in Newton.
“My biggest goals in life were to get married, have a family, spend time with my family and help them to be happy and successful,” he said. “At this point I was well on my way.”
A new career
When Agnew decided to apply for a job with Grinnell Mutual he had no idea what to expect from a career in the insurance industry. Little did he know that his contributions to the company would leave an enormous impact on Grinnell Mutual as well as on the farm mutual industry.
During his career he served in the Marketing department for 18 years. He began as a Marketing Representative, calling on mutuals in Illinois before becoming Assistant Marketing Director in 1971, Director of Marketing in 1973, and Vice President of Marketing in 1985. He served as Senior Vice President of Membership Development in 1987 and Senior Vice President of Illinois Operations in 1990. He was appointed President and CEO in 1991.
“My job in those early years was to reaffirm the values that were important to Grinnell Mutual. First and foremost we listened and took immediate action on those areas that needed attention,” Agnew said. “We wanted to strengthen the partnerships we had and to move forward with the customary dignity and respect that they expected. It worked.”
By 1992 Grinnell Mutual earned Company of the Year honors from the Professional Insurance Agents of Iowa, based on professionalism, cooperation, products, and agency contracts. It was ranked 67 in the top 100 global reinsurers by Standard and Poors. In addition, the A rating from A.M. Best persisted, and Grinnell Mutual achieved the Ward’s Top 50 Property-Casualty list for four consecutive years.
“Dan has a working knowledge of the insurance business, its product lines, and...hiring the right people for the right job. He is a true asset,” said Mike Fordyce, Chairman of the Board of Directors for Grinnell Mutual, in a letter to the Iowa Insurance Hall of Fame selection committee.
Inside the insurance industry Agnew has served three times as president of the Iowa Insurance Institute; as a trustee for the National Association of Mutual Insurance Companies (NAMIC) Reinsurance Committee and Health Insurance Plan; and on the NAMICO Board of Directors. In addition, he holds the Chartered Property and Casualty Underwriter (CPCU) and Associate in Management (AIM) designations.
Giving back
One of the criteria used by the Iowa Insurance Hall of Fame in evaluating potential nominees is how they have served the community and youth.
“It’s about giving back. Many people acted as mentors and helped me as I was growing up through junior high and high school. It’s been important to me to pass it on,” he said.
As his children, Heather and Chad, and now grandchildren Kaden, Kameron, William, and Matthew, were involved in sports activities, Agnew coached teams in basketball, soccer, baseball, and flag football. He has helped the local scouting program with merit badge projects. He has also helped college students who need to establish business relationships for classroom assignments.
Agnew’s community activities include past president of the Lion’s Club and Grinnell United Way; board member of United Church of Christ, Grinnell Country Club, Junior Achievement, Grinnell Regional Medical Center and GRMC Foundation, Greater Grinnell Development Corporation, Grinnell 2000, Poweshiek Area Development, Strand Theater LLC, Grinnell Area Chamber of Commerce, Grinnell Youth Baseball and Softball Association and Partners in Education.
Grinnell Mayor Gordon Canfield said, “Dan makes sure that Grinnell Mutual maintains its reputation as a fine place for employment and helps to assure that Grinnell is a great place to live. All of the things he does for his workplace, his industry and his hometown are not for personal recognition, but for the good of all.”
Agnew is quick to point out the recognition he is receiving from induction into the Hall of Fame comes through the efforts of many people – company employees and the board of directors, farm mutual members and associates, and his family.
“No one achieves an honor like this on their own. It’s the result of sacrifices made by many, including my family, and the best efforts of the fine people that I’ve had the pleasure to work with over the years,” Agnew said. “This recognition validates those efforts within the industry and I appreciate that.”