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. […]
Louisville Slugger Bat Presented to Jim Kennedy
July 3, 2013 By Leave a Comment
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 […]
The Value of an Agent Delivery System
February 7, 2013 By 1 Comment
by John Beavin In 2012, Kentucky Farm Bureau faced some of the most daunting challenges that our company has ever faced. In a year where the company had not one, but two 100 million dollar claim events, the company’s surplus actually increased by the end of the year to top $900 million. For some, 2012 […]
