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

2009 financial results

93 percent of SFM policyholders renewed in 2009, continuing SFM's industry-leading customer satisfaction and demonstrating SFM's long-term reliability. 13,884 employers trust SFM to help control their workers' compensation costs.

SFM's average claim costs continued to be significantly less than the industry average in 2009. Experience mods continued to improve overall for SFM policyholders.

SFM policyholders reported fewer injuries, but those reported were more serious. Our claims experts managed them with impressive results in reponsiveness and cost control.

While medical costs continued to rise sharply across the workers' compensation industry, in 2009 SFM held medical costs flat compared to the prior year. Additionally, SFM's recovery of nearly $1.8 million from at-fault third parties in 2009 was a record high.

View full details in SFM's annual review 

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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