(West Des Moines, Iowa – November 9, 2021) - Farmers Mutual Hail Insurance Company of Iowa (FMH) has announced that Shannon Rutledge, Executive Vice President and Chief Operating Officer, will be promoted to the position of President and Chief Executive Officer effective December 31, 2021. Shannon will succeed Ronald Rutledge, who will be retiring December 30, 2021. Shannon also serves as a director on the company’s Board of Directors.
In his 27 years at FMH, Shannon has held roles of increasing responsibility involving all FMH divisions, from adjusting crop hail losses in the field to working with international reinsurance partners, allowing him to develop a broad range of experience. He has held his current role as C.O.O. and Executive Vice President leading the Crop Insurance Division since 2015. He also serves on various boards across the industry.
In his time leading the Crop Insurance Division, several of his significant accomplishments include overseeing the integration of the John Deere Insurance Company acquisition, and the addition and growth of FMH Precision Crop Insurance Solutions™, which enhances crop insurance with more accurate coverage and faster claims using precision ag data. Under his leadership, Crop Insurance revenue also grew substantially, reaching $1 billion in written premium this past year – a milestone in the company’s 128-year history.
“Shannon brings a proven track record of implementing innovative strategies for FMH and a commitment to data-driven decisions to his role as a leader. His unique range of experience and focus on the future of insurance has made him a valuable voice in the industry,” said Ron Rutledge. “Shannon is well equipped to lead FMH into a new, more technology-driven world of insurance that will continue to provide new and innovative solutions to serve America’s farmers.”
Shannon is looking forward to expanding the vision established under Ron’s leadership. He said, “I am grateful for the leadership team and outstanding employees I’ve worked with over my career at FMH. Because of them, we have seen tremendous growth and success in recent years. As FMH continues to evolve to include more technology and data insurance solutions, I will ensure that our mission to protect the livelihoods and legacies of America’s farmers continues to lead us.”