Third quarter business results steady

SFM's policy renewal rate through September 2004 was a steady 91 percent, continuing SFM's historically strong renewal rate.

New business was also strong through September: 1,100 new Minnesota policyholders generating $17 million in premium, and 160 new Wisconsin policyholders generating $2.5 million in premium.

Much of the new business is small accounts less than $5,000 in premium. Small business applications are up significantly. SFM underwriters have reviewed more than 1,800 small business applications so far this year compared to 800 in all of 2003. Agents have submitted more than 4,500 applications total through September.

SFM underwriters quoted more than 50 percent of applications received and captured 57 percent of them.

Industries with the most new policyholders: services 358, retail trade 352, construction 147.

Through September, the largest new policyholder was $450,000, the smallest $255.

	AGENT AGENDA ONLINE October-November 2004 State Fund Mutual Companies

	Third quarter business results steady
	SFM's policy renewal rate through September 2004 was a steady 91 percent, continuing SFM's historically strong renewal rate. New business was also strong through September: 1,100 new Minnesota policyholders generating $17 million in premium, and 160 new Wisconsin policyholders generating $2.5 million in premium. Much of the new business is small accounts less than $5,000 in premium. Small business applications are up significantly. SFM underwriters have reviewed more than 1,800 small business applications so far this year compared to 800 in all of 2003. Agents have submitted more than 4,500 applications total through September. SFM underwriters quoted more than 50 percent of applications received and captured 57 percent of them. Industries with the most new policyholders: services 358, retail trade 352, construction 147. Through September, the largest new policyholder was $450,000, the smallest $255.