In the 1996 spring issue of our Cloud newsletter, Tyke Kumler, who was then FMH’s Vice President of Sales, authored the front-page column, entitled “Revised Goal: $100,000,000. Yes, That’s $100,000,000 Premium, and No, I’m Not Kidding!” Management set a goal of $94 million in premium for that year.
In his last production season with FMH, Kumler informed agents that, given their “desire to provide your clients with the best service available” and the “steady and continuing rise in the market,” the goal of $100 million of annual premium written was within reach. “If you keep up your present momentum,” he wrote, “the goal of $100 million premium will be achieved with the same kind of mastery that you have achieved all of the past goals we have set before you.” FMH reached the revised goal of $100 million in premium later that year.
Twenty-five years later — with that same dedication to service from our employees and our agents — FMH has surpassed its 1996 achievement and then some. For the first time in its history, FMH reached $1 billion in written premium this past July.
During a recent all-employee update meeting, FMH President and CEO Ron Rutledge announced, “We wrote a billion dollars in crop insurance. How about that?”
FMH first came close to achieving this milestone a few years ago with the acquisition of John Deere Insurance Company (JDIC). “If you took the combined premiums of FMH and JDIC in 2014, that total would’ve exceeded $1 billion,” said Rutledge. “But in 2015, when the two companies came together, commodity prices fell, and our combined premiums never managed to hit that level.”
It’s taken a long time for prices to recover, but they’ve seen a significant increase this year. Increased commodity prices, combined with some new insurance plans and increased acres, pushed FMH over the top, according to Shannon Rutledge, FMH Executive Vice President and Chief Operating Officer. “The 2021 acreage reporting and sales season was about as perfect as we could have asked for,” he said. “Acres increased by over eight percent, which is a true sign of growth.” Even more exciting, he added, “We feel there’s even more of an opportunity next year for organic growth in certain regions.”
"The 2021 acreage reporting and sales season was about as perfect as we could have asked for. Acres increased significantly, which is a true sign of growth. We feel there's even more of an opportunity next year for organic growth in certain regions."
- Shannon Rutledge FMH EVP & COO
As was the case 25 years ago, this milestone would not have been achievable without the efforts of our staff and our agency partners. Their commitment to outstanding service for our customers shines through every day, and we thank our agencies for partnering with us to protect America’s farmers. “I want to sincerely thank all of you for a job well done,” said Ron Rutledge. “Congratulations!”