Grinnell Mutual Joins NAMIC Century Club
Grinnell Mutual Reinsurance Company, serving policyholders for 100 years, was welcomed into the National Association of Mutual Insurance Companies’ (NAMIC) Century Club during NAMIC’s 2009 annual convention last week.
Grinnell Mutual, founded in 1909 as the Iowa Farmers Mutual Reinsurance Association, the first reinsurance association for farm mutuals, was one of 10 companies named to NAMIC’s Century Club. Located in Grinnell, Iowa, Grinnell Mutual is presently the largest primary farm mutual reinsurance company in North America.
"These companies have served their policyholders through the best and worst of times," said Chuck Chamness, president and CEO of NAMIC. "Their continued service is testament not only to their strength and stability, but to the concept of mutual insurance as well."
Founded in 1895, the National Association of Mutual Insurance Companies is a national insurance trade association. Its membership includes farm mutual insurance companies, single-state and regional writers, and national insurers operating across North America. The more than 1,400 NAMIC members underwrite 41 percent of the automobile and homeowners’ insurance market and 31 percent of the business insurance market. NAMIC’s Century Club presently tops 660 members.
(See “NAMIC Inducts Ten New Members Into the ‘Century Club’” at www.namic.org)