MERRILL — For the third consecutive year and 12th time overall, Church Mutual Insurance Company has been named to the Ward’s 50 Top Performing Property and Casualty Insurers. Church Mutual has been recognized by Ward Group, a part of AON Hewitt, for its outstanding financial results in safety, consistency and performance during the past six years, from 2011 to 2016.
“Recognition from this industry-leading organization for the third year in a row affirms our reputation as a market-leading company,” said Rich Poirier, president and CEO of Church Mutual. “Ultimately, Ward’s Top 50 status underscores our success in protecting the greater good while managing a highly respected organization. It sends a positive message to our customers and the business community, and highlights our commitment to exceptional customer service.”
The Ward Group is the leading provider of benchmarking and best practices studies for insurance companies. Each year, it analyzes the financial performance of nearly 3,000 property and casualty insurers in the United States, including industry leaders such as GEICO, Progressive, Allstate and Travelers.
To complete its annual analysis, Ward Group uses a comprehensive, rigorous set of criteria including:
- Must rank in top 10 percent of peer business mix benchmark group;
- Surplus and net premium evaluations;
- Positive net income in a least four of the last five years;
- Compound annual growth in premiums between -10 percent and +40 percent;
- Must pass Ward Group’s evaluation of company operations.
The award also magnifies Church Mutual’s outstanding financial performance.
“We always have our customers and their finances in mind,” said Jeffrey Steffen, Church Mutual’s vice president and chief financial officer. “Many of our customer’s funds come directly from the individuals they serve, and we are privileged to help them mitigate their risks.”
