Building A Legacy

Legacy Mutual, formerly Pioneer Mutual, was formed from the merger of three Southwest Iowa mutuals in 2020: Pioneer Mutual of Red Oak, Southwest Iowa Mutual of Clarinda, and Adams Mutual of Corning. All three were strong mutuals that had similar underwriting philosophies and overlapping territories.

The retirement of Pioneer Mutual manager Scott Arenholz in 2019 started the discussion among the merger mutuals. When the merger was complete, Jennifer Glassgow continued her role as mutual manager for Legacy and eventually relocated the home office from Clarinda to Stanton.

Glassgow has stayed close to home; she grew up on a farm north of New Market and still lives in that area. After getting a bachelor’s degree in business management, she was open to anything business-related.

Fortunately, there was an opening at a farm mutual company close to home. “Coming from a farming background, I understood the properties we were insuring and was familiar with valuations. I knew many of the area policyholders, too. I care very much about the needs and success of our clients. It has been a great place to work and raise my family.”

Legacy’s legacy

Community is also important to the staff at Legacy Mutual and the mutual hosts an annual golf tournament, with all proceeds going to Stanton-area local fire departments. Over the last 30 years, the event has raised $109,000. The staff volunteer at local summer lunch programs, take part in local parades, organize fun giveaways, and support other local community events.

One volunteer job is especially gratifying for Glassgow.

“Educating students at the Stanton Community Schools high school’s independent living class about insurance, both as a career and as a basic need for adulthood, is another activity we are proud of,” Glassgow said. In fact, they intend to expand the program to other high schools in Stanton.

Legacy Mutual also started the “Build Your Legacy” scholarship program in 2022, and are looking forward to awarding the second round of scholarships for the 2023–2024 school year. There are four $1,000 scholarships available for students whose parents or guardians are Legacy Mutual policyholders.

Adapting to change

The current insurance climate has required every company to be more proactive, Glassgow said. “It’s more important than ever to be disciplined with our mutual business because the reinsurance market extremely challenging.”

Luckily, from the start, the boards of the merged mutuals took the challenges of the insurance industry into account when planning for the future.

“We are thankful that our boards of directors were forward-thinking and very intentional with our goals. It has put us in a little better position to continue to serve our customers and look for other merger partners,” Glassgow said.

As a board, they continue to have conversations about the future and what the industry might look like five to 10 years from now. “We openly talk about potential partnerships that could benefit our policyholders and agents,” Glassgow said.

10/2023