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Financial Information
2013 Annual Review

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Financial Information

Through conservative investing and careful management, SFM remains debt-free and a consistent market presence despite swings in the economy.

SFM's financial highlights

  • Conservative, high quality investment portfolio
  • Financial stability
  • Consistent, reliable coverage for employers
  • Fair pricing, matched with the risk
  • Careful loss reserving philosophy
  • Customer retention unmatched in the industry
  • Sensible, steady underlying business growth
  • Surplus strength for the unexpected
  • Industry leadership as one of the largest writers of workers' compensation in the Midwest

2013 annual review

2013 Annual ReviewThrough a combination of disciplined risk selection, unrivaled claim and medical cost management, and careful use of our professional resources, SFM followed an exemplary 2012 with similar financial results in 2013. Net earnings topped $9 million, contributing to a return on policyholder surplus of 10% and a combined ratio under 100. But our most notable operational statistic is that over 94% of our customers renewed their policies with SFM in 2013; a remarkable achievement in our line of business and a testament to the sustainable competitive advantage we provide our agency partners.

Learn more in SFM's 2013 online version (full) annual review Arrow image
Print version (abbreviated) Arrow image

AM Best rating

AM Best designates SFM as NR-5 (not formally followed). This means that SFM chooses not to purchase a financial rating from AM Best. With a strong track record of financial performance, SFM instead offers full disclosure of the financial results of the company. SFM retains outside firms to independently evaluate claim reserve adequacy and provide annual audits of financial statements. SFM also purchases reinsurance to protect against the risk of large losses.

 

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