Company Briefs

Harford Mutual Insurance Group Releases 2022 Annual Statement

Harford Mutual Insurance Group has announced the release of its 2022 Annual Statement. The statement highlights the year’s accomplishments, strategic initiatives, and continuing commitment to our policyholders, agency partners, employees, and community partners.

The Annual Statement details the company’s financial strength. New business, direct written premium, and revenue growth exceeded plan. Harford Mutual Insurance Group (HMIG) was named to Best’s Review of Top 200 U.S. Property/ Casualty Writers, appeared for the 12th year on the Insurance Journal list of super regional P/C carriers, and included on the Ward’s 50 list of top performers for the second year in a row.

“Throughout 2022, we concentrated on the strategic initiatives that would make doing business with Harford Mutual Insurance Group easier,” said Steve Linkous, President & CEO of Harford Mutual Insurance Group. "Working to remain competitive in a constricting labor market, we implemented changes and benefits to continue helping us position HMIG as an employer of choice.”

The company was awarded a 2022 Top Workplaces honor by Baltimore Sun Top Workplaces, named to the RISE Elite 50 Internships list for the third year in a row, and received the Silver Healthy Workforce designation from our benefits provider, Cigna.

Harford Mutual’s charitable support totaled nearly $490,000. Employees also volunteered nearly 500 hours at numerous community organizations and non-profits.

Builders Mutual Receives 24th Consecutive ‘A’ Rating from A.M. Best

Builders Mutual is thrilled to announce that our Financial strength Rating of A (Excellent) was once again reaffirmed by A.M. Best Company, the world-wide leading source for information on the financial condition and operating performance of insurance companies, on May 2, 2023. This marks the 24th consecutive time Builders Mutual has earned this rating.

In A.M. Best’s Rating Rationale Summary, Builders Mutual’s balance sheet was categorized as “Strongest”, highlighting the consistent, organic surplus growth over the last ten years. It also highlighted operating performance as “Strong”, noting significant net premiums in written growth over the last five years across all lines of business. A.M. Best describes the outlook for Builders Mutual as “Stable”, which reflects expectations that the company will maintain a balance sheet strength assessment in the strongest range over the immediate term while continuing to report favorable operating results.

“We are proud to once again receive this important designation from A.M. Best,” said Mike Gerber, President and Chief Executive Officer of Builders Mutual. “Our team works tirelessly to maintain our operating performance and financial strength and this recognition reinforces our ability to continue to support our policyholders and agents.”

FSB Insurance Acquires Redman Davis

FSB Insurance in Jackson, Tennessee recently announced its acquisition of the Redman-Davis Insurance agency in Columbia, Tennessee. FSB President and CEO, Andy Gaddie, said, “We couldn’t be more excited about the Redman-Davis agency and its rich history and service to the Columbia, TN area. They complement our Middle Tennessee footprint well relative to our growth strategy. Moreover, they share our values and commitment to provide clients with intelligent insurance and risk management solutions supported by exceptional service."

FSB has four West Tennessee locations and two in Middle Tennessee. FSB is part of Sunstar Insurance Group based in Memphis, Tennessee further extending the capabilities of our organization.

Redman-Davis Insurance Agency, formed in 1894, offers personal, commercial, life, health and employee benefits insurance and is led by veteran agents Chad Williams and Sonny Shackelford.

West Bend Mutual Insurance Company Leader in Top Workplaces

WEST BEND, WI (May 19, 2023) – West Bend Mutual Insurance Company was announced as the first-place winner in the large company category for the Milwaukee Journal Sentinel’s Top Workplaces in Southeast Wisconsin. It is the twelfth consecutive year in which West Bend has placed in the top four among a prestigious list of 160 companies named to the 2023 Top Workplaces list.

Rankings are based entirely on employee feedback. Top Workplace companies are measured on company leadership, career opportunities, workplace flexibility, compensation, benefits, and the impact company policies have on innovation and morale. This announcement