SFM is off to a good start through the first six months of the year, and with a strong July expected for new business, we are looking to maintain that momentum through the next quarter.

Written premium is close to plan year to date, and new business is on plan, as well, at about $13 million. Premium audit additional is solid at more than $6 million so far this year. However, pricing is down 6% through the end of June, which was slightly more than projected.

“Despite the continued market challenges in workers’ compensation insurance, SFM and our agency partners have continued to grow our book of business and sustain our excellent client retention rate of over 95%,” said Steve Sandilla, Sr. VP and Chief Business Officer. “We’ve had a good start to the first half of the year and are planning to make the second half just as robust.”

Following a mild winter in the Upper Midwest, and subsequently fewer slip and fall claims, claim frequency was looking very good for the first six months of 2025. Still, though claim severity is within projections, SFM has increased that range in recent years following a trend of more surgeries and recovery time due in part to an older workforce.

“SFM’s results so far this year mirror our philosophy of steady, measured growth,” Sandilla said. “As we look to build on a good first half of 2025, we want to remind our agent partners that we look forward to working together to generate new business.”

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