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Pekin Insurance® Announces Ratings by A.M. Best (2013)

Posted by on Jun 24, 2013 in News

A.M. Best recently affirmed the Financial Strength Rating of “A” (Excellent) of the Pekin Insurance Group and our two intercompany pool members, The Farmers Automobile Insurance Association and its wholly owned subsidiary, Pekin Insurance Company. The company has achieved this rating since 1960. This rating reflects the company’s excellent risk-adjusted capitalization, long-term operating performance, experienced management team, and solid agency relationships.

It was also announced by A.M. Best that Pekin Insurance is the 107th ranked writer of Property/Casualty insurance in the United Stated based on 2012 net written premiums, which puts it in the top 4% of all Property/Casualty companies in the United States.

In addition, A.M. Best affirmed the “A-” (Excellent) rating for Pekin Life Insurance Company. This rating reflects many positive rating factors including its integral role and generally positive contribution to the Pekin Insurance Group, growth in net premium written, high-quality fixed income investment portfolio, diversified product portfolio, and favorable level of risk-adjusted capitalization.

According to A.M. Best, Pekin Life Insurance Company is the 137th ranked Life and Health insurance company in the United States based on 2012 admitted assets. This ranking puts the company in the top 15% of all Life insurance companies in the country.

A.M. Best Company is a full-service credit rating organization dedicated to serving the insurance industry. Policyholders refer to Best’s ratings and analysis as a means of assessing the financial strength and creditworthiness of risk-bearing entities and investment vehicles.

Source: BestWeek June 2013

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Pekin Life Insurance Company Holds 48th Annual Meeting

Posted by on May 16, 2013 in News

Pekin Life Insurance Company held its Annual Meeting on May 14, 2013, at the company’s Home Office in Pekin, Illinois. It is the 48th year of operations for the company that traces its roots back to 1965.

The Company reported net income of $7.6 million. Premium income decreased by 1.5 percent to $221.1 million. Life Insurance in force exceeded $13.7 billion in the year 2012.

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 2016.

Other directors whose terms continue are: Steven R. Anderson, Loves Park, Illinois; Craig W. Concklin, Hinsdale, Illinois; Daniel V. Connell, Pekin, Illinois; Byron A. Dodd, Anna, Illinois; A. Richard Kriegsman, Pekin, Illinois; and Gordon M. Walker, Groveland, Illinois.

On April 17, 2013, Pekin Life Insurance Company declared a quarterly dividend of $0.02 per share payable June 3, 2013, to shareholders of record May 3, 2013. The company has paid dividends each year since June 1, 1976.

President Scott Martin, a featured speaker, remarked, “Our focus is on writing more Life through our core distribution system, the independent agent, and we are working hard to roll out new products continuously. We are expanding our wings outside of the core states of Arizona, Illinois, Indiana, Iowa, Ohio, and Wisconsin through Pre-need, Credit Life, and our newest venture of Life only products in Missouri. Our top lines in terms of profitability in 2012 were annuities, individual life, and Medicare Supplement; all areas we are focusing on going forward. We continue to be grateful for the support of our agents, and we will never take them for granted.”

Another featured speaker at the meeting was Brian Lee, Senior Vice President and Chief Operating Officer/Life, who commented, “we live in interesting times. With regulators, politicians, and the economy all impacting our operation, the task at hand can be daunting. Due to the tireless efforts of our employees and the unwavering support of our agency partners, I rest easy knowing that we have the best people possible to overcome all of the challenges we face.”

Pekin Life Insurance Company is an integral part of the Pekin Insurance® group of companies.

Pekin Life Insurance Company stock trades under the symbol “PKIN” and is listed on the OTCQB. Wells Fargo Advisors makes a market in the stock.

A multi-line company, Pekin Life Insurance Company offers individual life and group life and health products; including term, universal life, group medical, medicare supplement, annuity, credit insurance, debt protection, and pre-need coverages. Additionally, Pekin Life Insurance Company has created a new third party claims administration division, Group Plan Solutions, which is designed to provide employer-based, self-funded health plan administration. Other products offered by the Pekin Insurance group include automobile, homeowners, motorcycle, recreational vehicle, boatowners, commercial automobile, businessowners, commercial property and liability, workers compensation, and bonds.

Information about Pekin Life Insurance Company can be obtained by visiting our Internet website at www.pekininsurance.com.

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Pekin Insurance® Recognizes Agents and Agencies for Going Beyond the expected.®

Posted by on Mar 25, 2013 in News

During the month of March, Pekin Insurance held their 53rd annual Awards and Appreciation Banquets to honor agents and agencies for insurance production that has gone Beyond the expected.® This year, 42 Beyond the Expected® Agency Awards, 134 Underwriter of Merit Awards, 131 Gold Key Awards, 153 Silver Key Awards, and 97 Inner Circle Club memberships were presented at banquets held in the states of Illinois, Indiana, Iowa, Ohio, and Wisconsin.

The top 4% of agencies were recognized with the Beyond the Expected® Agency Award for exceptionally high standards of service to an agency’s customers and community. As our top award, the Beyond the Expected® Agency Award is given only to an agency which has demonstrated outstanding professional performances in both the Property/Casualty and the Life and Health lines of insurance.

The top 11% of agencies were presented with the Underwriter of Merit Award, which recognizes excellent professional skill and knowledge in the field of Property/Casualty insurance.

Individual agents who demonstrated superiority in the sales of Life and Health insurance were awarded the company’s Gold and Silver Key Awards. Gold Key Award winners represent the top 2% of the company’s agents, and Silver Key Award winners are in the top 4% of agents.

Membership in the elite Inner Circle Club, the highest honor for Life and Health insurance producers, was achieved by those agents who excelled Beyond the expected® to be among the top 1% of Pekin Life Insurance Company producers.

In addition, the coveted Robert T. Tebben Agency of the Year Award was presented to one agency in Illinois, Indiana, Iowa, Ohio, and Wisconsin. This elite award honors the late Robert T. Tebben who, in his more than 50 years of service to the company, contributed more than any other single individual to the present success of Pekin Insurance. He believed that all Pekin Insurance agencies should strive to go Beyond the expected® to provide a full range of services to their customers. The agencies honored with this award were Ramsey Financial Services, Inc., in Bowen, Bushnell, Nauvoo, Ashkum, and Macomb, Illinois; Killingbeck, Inc., in Kokomo, Indiana; Nelson Brothers Agency in Bettendorf, Moline, Muscatine, and Blue Grass, Iowa; Dressel & Evans Agency, Inc., in Columbus, Ohio; and Senz Insurance Agency, Inc., in Beloit, Wisconsin.

It is a true privilege for Pekin Insurance to celebrate the accomplishments of their outstanding agents and agencies at Awards and Appreciation Banquets each year.

Pekin Insurance, which provides multiple lines of insurance, has been in business since 1921. Pekin Insurance offers a wide range of insurance products in Arizona, Illinois, Indiana, Iowa, Ohio, and Wisconsin through its growing agency force, which now totals 1,176 independent agencies and 7,802 producers in the six-state area. The company is headquartered in Pekin, Illinois, with service offices in Moline, Mount Vernon, Rockford, and Warrenville, Illinois; Indianapolis and Warsaw, Indiana; Des Moines, Iowa; Columbus, Ohio; and Appleton and Waukesha, Wisconsin.

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Pekin Insurance Sponsored PGA TOUR Professional D.A. Points Honored as Ambassador for Arnie’s March Against Children’s Cancer

Posted by on Mar 21, 2013 in News

Pekin native D.A. Points, a Pekin Insurance® sponsored PGA TOUR professional, has teamed up with PGA TOUR golfers Brian Davis and Brian Gay to form Team APH to honor the legacy of Arnold Palmer of coming to the aid of children with cancer through the Arnold Palmer Hospital for Children and Winnie Palmer Hospital for Women and Babies.

The golfers came together for the first time as Team APH on March 19, 2013, to lead dozens of cancer patients and their families and hundreds of friends in the first-ever Arnie’s March Against Children’s Cancer. The walk was routed around Arnold Palmer’s Bay Hill Club & Lodge. The event raised money and awareness for children’s cancer as the golfers kicked off tournament week at the Arnold Palmer Invitational.

All three professional golfers and their families have received care from the hospitals bearing the names of Arnold Palmer and his late wife, Winnie. They have unique and strong personal connections to the hospitals and have always admired Palmer for his achievements on and off the course.

D.A. comments, “Mr. Palmer paved the way for us to be successful as golfers, but he is so much more than golf, and you can see that in care my family and so many others have received at Arnold Palmer Hospital and Winnie Palmer Hospital. It’s an honor to be a member of Team APH.”

As the three PGA TOUR professionals compete on golf courses around the globe, the Team APH golfers will carry a visible reminder of Palmer’s influence and the impact his hospitals have on so many lives. Their golf bags will be adorned with the colorful logo of Arnold Palmer Hospital for Children.

Funds raised through Arnie’s March will be directed to cancer research and clinical trials at the Center for Children’s Cancer and Blood Disorders at Arnold Palmer Hospital for Children. To donate to Arnie’s March Against Children’s Cancer, please visit ArniesMarch.com.

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Attention Illinois Homeowners! Consumber Alert! Illinois Department of Insurance Warns Consumers Not to Purchase Home Warranty Service from Arkidus Home Protection

Posted by on Feb 18, 2013 in News

The Illinois Department of Insurance (DOI) is alerting consumers that Arkidus Home Protection has been unlawfully marketing home warranty services to Illinois residents via the Internet. Despite a previous order by the Department to cease and desist from doing business in Illinois, the Florida-based Arkidus offered coverage for household appliances. The Department has received several complaints from consumers who were having difficulty receiving reimbursement from Arkidus for claims. An investigation determined that Arkidus and Reinaldo “Ray” A. Berges, who conducted business individually and on behalf of the company, had never been granted a certificate of authority to transact insurance or a license to sell home warranties in Illinois. Consumers who have been doing business with Arkidus, via its website (theahp.net) or Mr. Berges, should immediately seek assistance about their coverage. Read the Cease and Desist Order.

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Pekin Insurance Parent Company Holds Annual Meeting

Posted by on Feb 13, 2013 in News

The Farmers Automobile Insurance Association, Pekin Insurance’s parent company, held its annual meeting on Tuesday, February 12, 2013, 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 Thomas C. Hornstein and Christine A. Schwartz, both of Pekin, Illinois, to the Advisory Committee.

Officers of the company were elected as follows: Gordon M. Walker, Chairman of the Board and Chief Executive Officer; Steven R. Anderson, Vice Chairman of the Board; Scott A. Martin, President; Daniel V. Connell, Senior Vice President, Chief Financial Officer, and Secretary; Todd A. Clark, Senior Vice President and Chief Operating Officer; Brian K. Lee, Senior Vice President; Stephen H. Nunan, Senior Vice President – Underwriting; Curtis A. Eeten, Vice President – Claims; Gregory L. Feller, Vice President – Sales; Joel M. Jackson, Vice President – Marketing; Rodney L. McKimson, Vice President – Information Technology; Edward A. Mulvey, Vice President – Personal Lines Underwriting and Assistant Secretary; 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; Jeff A. Nelson, Assistant Treasurer; Michele E. Ginther, Assistant Treasurer; Aaron Z. Potacki, Assistant Secretary; and Michael L. Norton, 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 1,181 independent agencies and 7,717 insurance producers in the six state area. The company is headquartered in Pekin, Illinois, with service offices at Champaign, Moline, Mount Vernon, Rockford, and Warrenville, Illinois; Indianapolis and Warsaw, Indiana; Des Moines, Iowa; Columbus, Ohio; and Appleton and Waukesha, Wisconsin.

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