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Pekin Insurance® Holds Annual Meeting

Posted by on Mar 1, 2017 in News

The Farmers Automobile Insurance Association held its annual meeting on Tuesday, February 14, 2017, at their Home Office in Pekin, Illinois.

The following directors were elected for three year terms: Steven R. Anderson, Loves Park, Illinois; Byron A. Dodd, Anna, Illinois; and Brian K. Lee, Pekin, Illinois.

Subscribers elected Steven R. Anderson, Loves Park, Illinois; and Byron A. Dodd, Anna, Illinois, to the Advisory Committee.

Pekin Insurance officers elected included: Scott A. Martin, Chairman of the Board, President, and Chief Executive Officer; Steven R. Anderson, Vice Chairman of the Board; Daniel V. Connell, Senior Vice President, Chief Financial Officer, and Secretary; Todd A. Clark, Senior Vice President and Chief Operating Officer – Property/Casualty; Brian K. Lee, Senior Vice President and Chief Operating Officer – Life; Curtis A. Eeten, Vice President – Claims; Gregory L. Feller, Vice President – Sales; Joel M. Jackson, Vice President – Marketing; Subhasis Mukherjee, Vice President – Chief Information Officer; Edward A. Mulvey, Vice President – Personal Lines Underwriting and Assistant Secretary; Kimberly S. Remmert, Vice President – Human Resources; Joseph C. Ricigliano, Vice President – Commercial Lines Underwriting and Assistant Secretary; Diane K. Steiner, Vice President – Life Underwriting and Assistant Secretary; Michael A. Zabinski, Vice President – Controller; Amber J. Stenger, Assistant Treasurer; Michele E. Ginther, Assistant Treasurer; and Aaron Z. Potacki, Assistant Secretary.

Pekin Insurance is a group name adopted to designate the combined operation of The Farmers Automobile Insurance Association, Pekin Insurance Company, PAC, Inc., and Pekin Life Insurance Company.

Pekin Insurance has been in business since 1921, and is one of the leading insurers in the State of Illinois, providing multiple lines of insurance. Pekin Insurance offers insurance coverage in Arizona, Illinois, Indiana, Iowa, Ohio, and Wisconsin through its growing agency force which now totals 1,109 independent agencies and 8,392 insurance producers in the six state area. The company is headquartered in Pekin, Illinois, with service offices at Phoenix, Arizona; Mount Vernon, Rockford, and Warrenville, Illinois; Indianapolis, Indiana; Des Moines, Iowa; Columbus, Ohio; and Appleton, Wisconsin.

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Pekin Insurance® Agencies Helped Support the Honor Flight Network

Posted by on Jan 11, 2017 in News

Pekin Insurance® agencies are honoring those who served in our military by supporting the Honor Flight Network, which recognizes American veterans for all their sacrifices.  Several independent insurance agents participated in the annual Tour of Honor Contest sponsored by Pekin Insurance.

For every life insurance application submitted, money was donated to the Honor Flight Network which transports veterans to Washington, D.C., to visit and reflect at their memorials.  This is a small tribute to those who gave so much.  Thanks to the combined efforts of the Pekin Insurance independent agency force, the company donated $20,000 to this cause.

Pekin Insurance and its independent agencies thank the men and women who made the sacrifice and commitment to fight for the freedom and safety of our country.

In business since 1921, Pekin Insurance offers multiple lines of insurance in Arizona, Illinois, Indiana, Iowa, Ohio, and Wisconsin and is represented by nearly 1,500 independent agencies.

Pekin Insurance agents can assist you with your auto, home, business, and life insurance needs with service that goes Beyond the expected.®

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A.M. Best Affirms Financial Strength Ratings

Posted by on Jun 30, 2016 in News

The Farmers Automobile Insurance Association and Pekin Insurance Company Ratings

A.M. Best has affirmed the Financial Strength Rating (FSR) of “A” (Excellent) of Pekin Insurance® Group and our two intercompany pool members, The Farmers Automobile Insurance Association and its wholly owned subsidiary, Pekin Insurance Company. The outlook for the FSR continues to be stable. Financial Strength Ratings are published in A.M. Best’s Insurance Reports and represent their independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. The affirmed rating reflects our solid risk-adjusted capitalization driven by a conservative investment risk profile, historically favorable loss reserve development, and well-established agency relationships. This rating acknowledges our competitive advantages including improved technology as reflected by our use of By-Peril based rating in the Homeowners line of business. A.M. Best also noted our increased market footprint in Arizona, which historically has been a profitable market for Homeowners insurance.

At the same time, A.M. Best has affirmed our Issuer Credit Rating (ICR) of “a.” The outlook for the ICR continues to be stable. Issuer Credit Ratings are not published in A.M. Best’s Insurance Reports, but are posted on A.M. Best’s website and Business Wire. An ICR is assigned to insurance companies, banks, hospitals, holding companies, or other legal entities authorized to issue financial obligations and represents A.M. Best’s independent opinion of an entity’s ability to meet its ongoing senior financial obligations. Although the Pekin Insurance Group has never issued any senior financial obligations, the ICR is utilized by A.M. Best to provide additional granularity in the overall rating process.

Pekin Life Insurance Company Ratings

A.M. Best has also affirmed the FSR of “A-” (Excellent) and the ICR of “a-” for Pekin Life Insurance Company. The outlook for both ratings remains stable. The ratings of Pekin Life Insurance Company reflect an adequate level of risk-adjusted capitalization and a positive contribution to the Pekin Insurance Group. A.M. Best also noted our strategy to grow the ordinary life business while reducing exposure to the health segments.

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Mike Hermes Named Life Agent of the Year Award Winner

Posted by on Jun 6, 2016 in News

Mike Hermes, owner of Northeast Insurance, Inc., located in Green Bay, Wisconsin, was named the 2015 Life Agent of the Year award winner. The announcement was made at this year’s Inner Circle Club meeting held on May 19, 2016, at the Par-A-Dice Hotel in East Peoria, Illinois.

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Pekin Life Insurance Company Holds Annual Meeting

Posted by on May 11, 2016 in News

Pekin Life Insurance Company held its annual meeting on Tuesday, May 10, 2016, at the Company’s Home Office in Pekin, Illinois.

The Company reported net loss of $1.3 million. Premium income increased by 4.6 percent to $215.7 million. Life Insurance in force exceeded $16.2 billion in the year 2015.

At the meeting, shareholders elected directors Thomas C. Hornstein, Pekin, Illinois; Scott A. Martin, Peoria, Illinois; and Christine A. Schwartz, Pekin, Illinois, to three year terms to expire in May 2019.

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Pekin Insurance® Holds Annual Meeting

Posted by on Feb 10, 2016 in News

The Farmers Automobile Insurance Association held its annual meeting on Tuesday, February 9, 2016, at their Home Office in Pekin, Illinois.

The following directors were elected for three year terms: Scott A. Martin, Peoria, Illinois; and Thomas C. Hornstein and Christine A. Schwartz, both of Pekin, Illinois.

Subscribers elected Scott A. Martin, Peoria, Illinois; Thomas C. Hornstein and Christine A. Schwartz, both of Pekin, Illinois, to the Advisory Committee.

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