Our financial stability
As the largest writer of workers’ compensation in the Midwest with a long track record of strong financial performance, we believe our record speaks for itself when it comes to our financial stability.
As a mutual insurance company, we manage our business responsibly for the benefit of our policyholders. Through conservative investing and careful management, we consistently remain debt free.
AM Best Financial Strength Rating of “A- (Excellent)”
SFM has received a Financial Strength Rating of “A- (Excellent)” and a Long-Term Issuer Credit Rating of “a-” from AM Best Rating Services, Inc.
2025 financial highlights
Our commitment to service excellence is reflected in our success. In 2025, we had a record number of former policyholders return to SFM. We saw $28.4 million in new business premium – exceeding our yearly goal despite declining work comp rates and pressure from package carriers. SFM has surpassed $1 billion in assets. And we again had a combined ratio under 100, the 14th consecutive year of doing so.
Through investments in technology and innovation, we continue to improve our customers’ experience: allowing agents to get quotes more easily; enhancing the premium audit process; bolstering our claims procedures in core and non-core states; and refining and upgrading our digital portals for policyholders and agents. These technological efficiencies provide us with more opportunities for meaningful interactions with policyholders and agents.
