Grinnell Mutual is the 110th largest property-casualty insurance company in the U.S. with policyholders in 12 states. Grinnell Mutual is the largest direct reinsurer of farm mutual companies in North America. With its member mutuals, it has over $1 Billion in combined written premium and $132 Billion insurance in force. On January 31, 2020, AM Best issued an 'A' rating for financial strength and an 'a+' with a positive outlook long-term issuer credit rating for Grinnell Mutual. It has received an 'A' rating from AM Best since 1976. It has been a Property-Casualty Ward's 50® Company since 2016. In response to the COVID-19 pandemic, Grinnell Mutual announced the Trust in Tomorrow Premium Payback. This was one of a series of actions in March-May 2020 to assist policyholders affected by the pandemic, including moratoriums on policy cancellations and other actions to help both auto and commercial policyholders through this unsettled time..
History
Grinnell Mutual, in business since 1909, is the 110th-largest property casualty insurance company in the United States and the largest primary reinsurer of farm mutual companies in North America. In 1909, the company was formed in Greenfield, Iowa as "Iowa Farmers Mutual Reinsurance Association" by John Evans to provide reinsurance for county mutuals in Iowa. In 1933, the company moved to Grinnell, Iowa, and changed its name to "Farmers Mutual Reinsurance Association". The name changed again in 1948 to "Farmers Mutual Reinsurance Company". The current legal name, "Grinnell Mutual Reinsurance Company," was adopted in 1963. The company adopted the “Grinnell Mutual” and “" brands in 2017. In 2014, Grinnell Mutual was one of first six companies investing in the Global Insurance Accelerator, the first startup accelerator for insurtech. In 2016, it was one of the first seven companies investing in the Iowa AgriTech Accelerator, an agtech startup accelerator based in Des Moines, Iowa.
Awards
In addition to its 'A' rating from AM Best, Grinnell Mutual has been recognized as an Iowa Top Workplace since 2011. Forbes ranked Grinnell Mutual the fifth best Iowa employer in their inaugural list of America's Best-in-State Employers. Vault has recognized Grinnell Mutual's co-op as a Vault Top 50 Internship since 2018. In 2019, Vault ranked Grinnell Mutual as the #4 best internship for employment prospects, #9 best internship for compensation and benefits, and #14 best internship for quality of life. Ward Group has recognized Grinnell Mutual as a Top 50 Property and Casualty Performer since 2016. Ward Group screens property-casualty insurance companies for safety, consistency, and achieving superior performance on equity, assets, total revenue, growth in revenue, growth in surplus, and combined ratio over a five-year period. Grinnell Select Insurance Company, a subsidiary of Grinnell Mutual, was named the Number One Best Value for auto insurance in and for the year 2016.
Related Companies
Grinnell Specialty Agency - Other lines of insurance
