Company Profile
Grinnell Mutual Reinsurance Company
Company Overview
Located in America’s heartland, Grinnell Mutual provides property and casualty insurance and reinsurance to customers in 14 states throughout the Midwest.
For more than 100 years we have valued the relationships with our customers as we provide them with protection, security and stability. Today as in the past, we know our customers and employees appreciate our core values.
We act with integrity. Trust and respect our employees. Value our relationships. And serve and protect our customers.
Our mission statement also remains the same today as it was in the past.
"To provide quality reinsurance and insurance products and services in a profitable manner through a partnership with member mutuals and agents.
Management decisions will be considered in light of their effect on the welfare of the membership."
Planted in the Midwest
Our company’s roots can be traced back to the mid-1800s. As settlers moved to the Midwest, they banded together to protect themselves from the ravages of prairie fires. They discovered that working together and sharing the burden of loss was necessary for survival.
From there, the concept of spreading the losses of a few among many grew into the farm and county mutual insurance system. The mutual system flourished and developed into efficient, modern businesses serving the residents of specific counties and adjoining areas.
Independence – a FarMutual® tradition.
Today farm and county mutuals are dynamic members of their communities. Policyholders are the owners of their local mutuals. Whether they serve as directors on a mutual board or discuss their policies with their local mutual manager, policyholders are able to effectively address their property and casualty insurance needs in an evolving environment.
Each mutual retains the independence to serve its customers based on the local market. Local companies protect their policyholders’ assets and ensure the financial stability of their organizations through reinsurance with Grinnell Mutual. Small town service with big company protection and security have never meant more to local policyholders.
A mutual partnership
Located in Grinnell, Iowa, Grinnell Mutual operates in Illinois, Indiana, Iowa, Minnesota, Missouri, Montana, Nebraska, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, and Wisconsin, partnering with and reinsuring 250 FarMutual members. We are the largest, primary reinsurer of farm mutual companies in North America. Grinnell Mutual continues to receive an A rating from A.M. Best, a leading industry rating service, as we have for more than 20 years.
We also provide direct lines of insurance through local agents to protect your farm, home, vehicles, and business property, and bring you peace of mind. As part of a network of over 1,600 independent agencies, our agents live where you live.
As we begin our next century of service, we will continue our tradition, to protect you in your neighborhood, along Main Street, and in the countryside, through our partnership with your farm or country mutual. It’s our Policy of Working Together.
Company History
Celebrating 100 years
In 1909 the Iowa State Association of Mutual Insurance Companies met to discuss the need of a reinsurance organization for county mutuals. Seven Iowa mutual managers took it upon themselves to create the Iowa Farmers Mutual Reinsurance Association, the first organization dedicated to the reinsurance of farm mutuals in the country.
Over the past 100 years, Grinnell Mutual, along with our farm mutual members and their policyholders, has experienced tremendous challenges and opportunities. From that first one-man office in Greenfield, Iowa, in 1909 to our 700-person office located in Grinnell, Iowa, today, Grinnell Mutual continues to anticipate the changing needs of our policyholders.
Through these past 100 years, the one tradition that has made Grinnell Mutual a great company is the personal service provided by its people. That tradition led to its founding and continues to be Grinnell Mutual’s guiding force 100 years later.
Benefits
We fit your life
Our employees work hard for our customers and we work hard for our employees. Your family, your health, and your career aspirations are our priority at Grinnell Mutual. That’s why we continually enhance our employee benefits, designed with you in mind.
Health Care
We offer medical and dental plans to meet the health care needs of you and your family. Your health is valuable. That’s why we protect it with preventative benefits for routine physicals and mammograms, as well as with medical care for illnesses and injuries. Employees are also eligible for a comprehensive dental plan. You can tailor your health care benefits to meet the needs of your family with a flexible spending plan. The plan provides reimbursement for eligible health, dependent care, and transportation expenses. In addition, you may reduce your premiums by participating in Grinnell Mutual’s wellness program.
Income Protection
Life is full of unexpected events. Protecting your financial security during those times is important to us. We provide you with group term life insurance at no cost with coverage based on your current salary. You may purchase additional voluntary term life insurance for you and your family too. We also protect your financial security with paid sick leave and short-term and long-term disability.
Financial Security
Someday you hope to retire. That’s why we help you save for the future with a 401(k) plan. The 401(k) plan allows you to make tax-deferred or Roth (after-tax) contributions to your personal retirement plan at a rate that’s comfortable for you. Grinnell Mutual also makes a fixed rate contribution to your account and a discretionary match based on company performance.
Paid Time Off
For families, vacation is the highlight of the year. At Grinnell Mutual, you earn vacation benefits each pay period. You also enjoy eight holidays each year. Additionally, a personal holiday is awarded after one year of service.
Personal and Professional Development
We value both personal and professional continuing education. After one year of service at Grinnell Mutual, you are eligible for our tuition reimbursement program. The plan covers educational expenses including tuition, textbooks, and related expenses for undergraduate and graduate course work. We also offer industry-related classes and training sessions with an educational bonus incentive program. At Grinnell Mutual, it pays to continue your professional growth.
Additional Benefits
Employee Assistance Program
Identity theft services
Flexible work schedules
Employee events
Health clinic
Fitness center
On-site services
Cafeteria
Complimentary beverage stations
Dry-cleaning pick-up and delivery
Chair and table massages
ATM machine
Library and newspapers
Prescription delivery from Hy-Vee Pharmacy
Ticket raffles to sporting events and concerts
Outdoor park, pond, and walking trail