The April Insurance Board Meeting was held April 19th and 20th at Boyle County for the spring board meeting. In the 1st quarter we have a combined loss ratio of 85.42% which gives us a 1st quarter underwriting profit of $31,251,494. However, the policies written are down 19,000 this year from last year’s 1st quarter. […]
Presidents Report by Mickey Sirls
March 28, 2013 By Leave a Comment
The annual meeting for KY Farm Bureau Insurance Company The CEO Brad Smith gave the annual report which ended with KFB at $938 million in surplus. Nathan gave a report of percentage of revenues: Auto 52.6% Property 32.69% Other income 4.92% Investment 8.43% Misc income 1.62% Chuck Osbourne was announced as VP of Sales. The County Loan Program was […]
President’s February Report
February 27, 2013 By Leave a Comment
The February Insurance Board Meeting was called to order by President Mark Haney on February 14, 2013. First of all, we would like to offer our condolences to Chuck Osbourne on the loss of his father. The financials were discussed. Nathan announced that we had a net income of 20 million and a net surplus […]
President’s Report by Mickey Sirls
February 19, 2013 By Leave a Comment
January Insurance Board Meeting Memberships through January are 4025 behind last year at this same time. 107 agencies have less than 1% growth. 94 of 170 agencies will get some type of loss ratio bonus. Reserves: January 2012 surplus = $840 million, December 31, 2012 surplus = $928 million. Reinsurance has been purchased for 2013 […]
President’s Report for November
December 5, 2012 By Leave a Comment
The insurance board of KFB met Monday, November 19 at the home office. It was announced that the KFBloss ratio, as of October 31 was 110.96. This figures in a $5.9 million underwriting profit for October, even though auto was not profitable in October. So let’s see, that’s 3 out of the last 4 months that we have […]
Presidents report for October
October 31, 2012 By Leave a Comment
The Kentucky Farm Bureau Insurance Board met October 18, 2012. The first item discussed was the underwriting profits for the month of September. Kentucky Farm Bureau has made $13.1 million in profit, bringing our loss ratio for the year down to 113.2% So after losses, reinsurance reimbursements, expenses, gains in the stock market, and the […]
