Reid elected to Grinnell Mutual Board of Directors
Joe Reid of Aledo, Ill., was elected to Grinnell Mutual Reinsurance Company’s Board of Directors at the company’s 102nd Annual Meeting on June 23. Reid is the secretary-treasurer of Hamlet Mutual Insurance Company and manages Hamlet Insurance Agency in Reynolds, Ill. He was elected to a three-year term along with incumbent directors James Buch of Benton Mutual Insurance Association in Keystone, Iowa; Stephen Smith of Western Cherokee Mutual Insurance Association in Marcus, Iowa; and Paul Stueven of Fairmont Farmers Mutual Insurance Company in Fairmont, Minn.
Reid, a native of northwestern Illinois and graduate of Augustana College in Rock Island, returned to the area in 1997 after gaining valuable experience in the insurance industry. He started with Hamlet Insurance Agency before working for the mutual. In 2005, he became the secretary-treasurer of Hamlet Mutual, a position previously held by his father-in-law. The mutual has been served by the Ketzle family since 1878. Today, Hamlet Mutual serves 1,500 policyholders with a risk in force of $380 million and a surplus of $1.8 million.
“I believe the farm mutuals meet the needs of an underserved niche in the rural communities,” stated Reid. “As farms get larger, farm mutuals need to adapt to the different exposures. We can offer them superior insurance protection and personal service better than other carriers. I want to help Midwestern farm mutual insurance companies prosper.”
Reid, who will also serve as the chairman of the Illinois Association of Mutual Insurance Companies (IAMIC) for 2010-2011, holds a Chartered Property Casualty Underwriter (CPCU) designation and Associate in Risk Management (ARM). Reid resides near Aledo with his wife and three children.