Midwest Family Mutual Insurance Company: A Comprehensive Overview

Midwest Family Mutual Insurance Company is a regional property and casualty insurance provider based in Minnesota. With roots dating back to the late 1800s, they focus on serving policyholders across the Midwestern United States. This article provides a comprehensive overview of Midwest Family Mutual, including company history, leadership, financial ratings, products, community involvement and more.

Midwest Family Mutual Insurance Company (MFM) offers a wide range of personal and commercial insurance policies throughout the Midwest region. Here are some quick facts about the insurer:

• Founded in 1891 in Mankato, Minnesota
• Regional mutual insurance company
• Headquartered in Mankato, MN with a second office in Columbia, MO
• Writes policies in 24 Midwestern and Western states
• Employs over 300 people
• 2019 direct written premiums totaled $246 million
• A.M. Best financial strength rating of A- (Excellent)

As a mutual company MFM is owned by its policyholders rather than shareholders. The company’s mission focuses on providing exemplary products and service to customers while giving back to local communities.

Company History and Timeline

Midwest Family Mutual has a long and storied history serving policyholders across the Midwest

• 1891 – Founded as Farmers Mutual Fire Insurance Company in Mankato, MN
• 1895 – Began writing hail insurance policies
• 1920s – Expanded to offer auto insurance
• 1940s – Added inland marine and farm insurance products
• 1960s – Started providing homeowners insurance
• 1970s – Introduced commercial lines including businessowners policies
• 1980s – Rebranded as Midwest Family Mutual Insurance Company
• 2000s – Expanded geographic footprint across the Midwest
• 2010s – Launched online policy management and claims tools
• Today – Offers a broad range of personal and commercial insurance products

Throughout its 130+ year history, MFM has adapted its product offerings to meet evolving customer needs while remaining dedicated to the Midwestern policyholders and communities it serves

Midwest Family Mutual Leadership Team

Midwest Family Mutual is led by an executive leadership team with deep insurance industry expertise:

• Jim McMartin, President & CEO – 30+ years of experience in finance and operations leadership roles
• Dan Weston, VP & CFO – 20+ years of experience in accounting, finance and mutual company management
• Jeff Bloom, VP of Claims – 30+ years managing claims units and leading process improvement initiatives
• Brian Austin, VP of Personal Lines – 20+ years of underwriting and product management experience
• Michelle Olson, VP of Human Resources & Administration – 20+ years in HR leadership spanning multiple industries

The executive team guides the insurer’s strategic vision to leverage its mutual company structure and regional focus to best serve policyholders and agents.

Midwest Family Mutual Financial Strength & Ratings

As an insurance carrier, MFM’s financial strength and ability to pay out claims are critical factors. Here are some key financial metrics and ratings:

• A.M. Best Rating – A- (Excellent), Stable outlook
• Surplus – $247 million surplus as of year-end 2019
• Premiums – $246 million direct written premiums in 2019
• Combined Ratio – 93.7% combined ratio for 2019, outperforming industry average

A.M. Best is a leading insurance industry credit rating agency. MFM’s ‘A-‘ rating signifies excellent financial strength and ability to meet ongoing policy and contract obligations. Their stable outlook indicates continued positive performance is expected.

Midwest Family Mutual Insurance Products

Midwest Family Mutual offers a range of personal and commercial insurance policies tailored to meet customer needs:

Personal Insurance

• Auto Insurance
• Homeowners Insurance
• Umbrella Insurance
• Recreational Vehicles
• Valuable Items
• Identity Theft Protection

Business Insurance

• Businessowners Policy (BOP)
• Workers Compensation
• Commercial Auto
• Professional Liability
• Commercial Umbrella

Insureds can bundle policies together for multi-line discounts. MFM works closely with independent agents to build customized insurance packages.

Midwest Family Mutual Community Involvement

As a mutual insurer, MFM strongly focuses on community engagement and giving back:

• Midwest Family Foundation – Philanthropic arm awards over $500K annually to Midwest charities
• Employee volunteer program – Employees are given paid time-off to volunteer locally
• Event sponsorships – Sponsors community events across its operating territory
• United Way partner – Volunteers and contributes to United Way chapters across multiple states

The company aims to have a positive community impact across the regions it serves. The Midwest Family Foundation directs charitable giving toward local needs.

Working with Independent Insurance Agents

Midwest Family Mutual distributes its products exclusively through independent insurance agencies. Policyholders work with an appointed local agent who represents MFM. This enables customers to access MFM’s offerings along with other specialty insurers through one independent agent.

MFM only partners with agencies that demonstrate extensive experience, ethical practices and dedication to customer service. There are currently over 800 independent agencies that represent and recommend MFM insurance products.

For over 130 years, Midwest Family Mutual has specialized in providing personalized insurance products to protect policyholders across the Midwest. As a mutual company with an A- rating, MFM has built a reputation for financial stability and prompt claims payments. The insurer leverages its regional focus, community involvement and network of independent agents to best serve its clients while giving back locally. For those seeking a highly-rated regional carrier, Midwest Family Mutual offers a compelling choice.