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grinnellmutual.com

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Investments

5

Partners & Customers

3

About Grinnell Mutual Reinsurance

Grinnell Mutual Reinsurance is the primary reinsurer of farm mutual companies in North America.

Grinnell Mutual Reinsurance Headquarter Location

4215 Highway 146 South

Grinnell, Iowa, 50112,

United States

800-362-2041

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Latest Grinnell Mutual Reinsurance News

Issuer Credit Ratings of Grinnell Mutual Reinsurance, Subsidiary Upgraded

Feb 5, 2019

February 5, 2019 AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” from “a” and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Grinnell Mutual Reinsurance Co. and its subsidiary, Grinnell Select Insurance Co., in Grinnell, Iowa. The companies are collectively referred to as Grinnell Mutual Group (Grinnell). The outlook of the Long-Term ICR for the group has been revised to stable from positive while the outlook for the FSR remains stable. The ratings reflect Grinnell’s balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). The upgrade of the Long-Term ICR reflects Grinnell’s consistent and stable operating performance over the past five years. The group’s five-year average combined and operating ratios compare favorably to the personal lines composite. Grinnell has taken steps to improve its underwriting profitability for its direct and assumed books of business and actively continues to monitor pricing. Grinnell’s balance sheet strength level reflects the group’s strongest level of overall risk-adjusted capitalization, conservative investment portfolio, favorable liquidity and prudent reserving practices. The group has generated surplus in each of the past five years, resulting in reduced net and gross underwriting leverage measures. Grinnell’s adequate operating performance reflects the group’s improved underwriting profitability, which when coupled with steady net investment income has resulted in positive pre-tax operating income and net income in each of the past five years. Grinnell’s business profile is neutral, supported by its mix of personal lines, commercial lines, assumed reinsurance business and its solid foothold in the farm property reinsurance market. However, Grinnell’s geographic concentration in the Midwest creates susceptibility to frequent and severe weather-related events. Grinnell’s ERM is appropriate for its size and scope as a regional (re)insurance organization. The group maintains a strong governance process and formalized risk management program, which is used to identify, prioritize, and manage material risks to the group’s business objectives. Source: AM Best

Grinnell Mutual Reinsurance Investments

5 Investments

Grinnell Mutual Reinsurance has made 5 investments. Their latest investment was in FarrPro as part of their Seed - II on June 6, 2018.

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Grinnell Mutual Reinsurance Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/28/2018

Seed - II

FarrPro

Yes

1

12/22/2017

Seed VC

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$99M

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10

4/17/2017

Seed VC

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$99M

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10

3/8/2017

Seed

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$99M

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10

8/4/2015

Seed - II

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$99M

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10

Date

6/28/2018

12/22/2017

4/17/2017

3/8/2017

8/4/2015

Round

Seed - II

Seed VC

Seed VC

Seed

Seed - II

Company

FarrPro

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Amount

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

1

10

10

10

10

Grinnell Mutual Reinsurance Partners & Customers

3 Partners and customers

Grinnell Mutual Reinsurance has 3 strategic partners and customers. Grinnell Mutual Reinsurance recently partnered with FindBob on March 3, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

3/4/2019

Partner

FindBob

Canada

1

2/6/2017

Vendor

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10

1/12/2017

Vendor

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10

Date

3/4/2019

2/6/2017

1/12/2017

Type

Partner

Vendor

Vendor

Business Partner

FindBob

Country

Canada

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News Snippet

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Sources

1

10

10

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