Building on its status as the No. 1 workers’ compensation carrier in Minnesota, SFM had another strong year in 2025, with gains in newer markets, as well.

“About half of SFM’s business is now from states outside of Minnesota,” said Shawn Miner, VP of Regional Business. “In addition to maintaining the lead we’ve held in Minnesota for over 20 years, it’s fantastic to see strong growth coming from our other core states.”

Also of note, in 2025 SFM moved claims handling in-house in Indiana and Tennessee, which is expected to provide better service for policyholders and bolster SFM’s reputation in these states. This change allowed SFM to increase its appetite and write business for accounts larger than $25,000 in Indiana and Tennessee.

“We’re excited to add employees in our newer states as our footprint continues to grow,” said Cody Allen, SFM Territory Manager. “With claims handling coming in-house and our standing in new core states expanding, we are looking forward to increasing our presence and, in turn, our market share.”

Wisconsin, specifically, had an excellent 2025, with a record for new business premium.

“Our passion for providing the best work comp service is resonating with agents and policyholders,” said Rick Spaulding, a Wisconsin Team Business Leader. “They invest in a relationship built on trust.”

Highlights from 2025 include:

• 93% policyholder retention rate
• Total written premium of just over $253 million for 2025
• New business premium of $28.4 million
• Added 6,071 new business policyholders
• Another year of an A- rating from AM Best
• SFM Foundation awarded 19 new scholarships, bringing the total to $4.7 million
• Ongoing member of Keystone Program, donating 2% of pre-tax profits to charity

SFM partners with thousands of independent agents and serves more than 50,000 policyholders. In addition, SFM’s portion of the Wisconsin Workers’ Compensation Assigned Risk Plan is increasing from 20% to 25% this year.

“We have seen steady growth, despite rising claims and medical costs, and our overall trajectory is strong,” Steve Sandilla, Senior VP and Chief Business Officer. “While we have long been a work comp leader in the Midwest, the success of this latest round of expansion is a sign that we will continue to capture more market share in the years to come.”

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