Grinnell Mutual

What Grinnell Mutual does

Grinnell Mutual Reinsurance Company, SI is a 115-year-old mutual property-casualty insurance carrier headquartered in Grinnell, Iowa, writing business across a defined Midwest footprint of Iowa, Illinois, Indiana, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin. The company operates four lines of business: personal lines (auto, home (Pennsylvania excluded), umbrella); farm insurance under registered trademarks Farm-Mate and Farm-Guard; commercial lines with industry-specific packages for restaurants, veterinarians, florists, funeral homes, auto repair shops, barber shops/salons, photographers, mini-storage warehouses, multi-family residential, contractors, agribusiness, and houses of worship; and a Reinsurance division (Grinnell Re) serving farm mutual insurance companies and broker-assumed accounts.

Underlying the operation is a property-casualty insurance technology platform supporting quoting, policy administration, claims, and agent servicing, complemented by an Agent Portal for independent agents and a member mutual login (GMRConnect) for policyholders. The product line-up is enriched by a partner ecosystem that bundles third-party services onto policyholder relationships: Beazley for cyber liability and data breach response; J.J. Keller for on-demand commercial safety training; IntelliCorp for background screening (including a house-of-worship variant); and CyberScout for identity theft protection on farm policies. Adjacent loss-control services include safety bulletins, safety program booklets, safety talks, and on-demand video training.

Grinnell Mutual is a mutual insurance company owned by its policyholders, with no external shareholders, no parent company, no venture or private equity investors, and no identified subsidiaries. Revenue is generated through recurring insurance premiums collected via independent agents, with a subscription-style billing cadence; pricing is quote-based and not publicly disclosed. Distribution is anchored in an independent agent network rather than direct-to-consumer, with customers directed to a 'Find an Agent' locator on the corporate website. Leadership comprises President and CEO Jeff Menary and Executive Vice President and Chief Operating Officer Dave Wingert.

Name

Grinnell Mutual

Legal name

Grinnell Mutual Reinsurance Company, SI

Website

https://grinnellmutual.com

Company type

Private

Founded year

1909

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Grinnell Mutual is a 115-year-old mutual property-casualty insurance and reinsurance company based in Grinnell, Iowa, serving personal, farm, and commercial customers across ten Midwest US states through an independent agent network and its Grinnell Re division.

Ownership category

akta.pro rank

Headquarters

HQ city

Grinnell

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premiums: Grinnell Mutual generates revenue through insurance premiums collected from policyholders across personal lines (auto, home, farm, umbrella), commercial lines (business insurance), and reinsurance products. Premiums are collected on a recurring basis through agent relationships.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Grinnell Mutual is a mutual property-casualty insurer selling personal lines (auto, home, umbrella), farm insurance (Farm-Mate and Farm-Guard), and industry-tailored commercial coverages (restaurants, contractors, agribusiness, veterinarians, and more) through independent agents. Its Grinnell Re division additionally provides farm mutual reinsurance and broker-assumed reinsurance. Products are underwritten by Grinnell Mutual Reinsurance Company, SI and affiliated companies, distributed primarily across the Midwest.

Product overview

Grinnell Mutual is a 115-year-old property-casualty insurance and reinsurance company offering a portfolio of personal lines (auto, home, farm), commercial lines, and reinsurance products. Its core offerings include Farm-Mate and Farm-Guard farm insurance policies, a broad suite of commercial coverages targeting specific industries (restaurants, contractors, agribusiness, veterinarians, photographers, funeral homes, florists, auto repair shops, barbershops and salons, mini-storage warehouses, multi-family residential, and houses of worship), plus personal lines and umbrella products. Commercial coverages include add-on modules for cyber liability (via Beazley partnership), commercial auto, commercial umbrella, EPLI, equipment breakdown, and workers' compensation. The company also provides adjacent services including loss control bulletins and safety training materials, identity theft protection via CyberScout, and background screening via IntelliCorp. Its Grinnell Re division provides farm mutual and broker-assumed reinsurance.

Differentiator

Problem solved

Functional benefit

Brands

• Farm-Mate: Farm insurance policy covering farm structures, personal property, home, and household contents.
• Farm-Guard
• Grinnell Re

Products and services

• Auto Insurance

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered core and minor.

• IntelliCorpcoreStrategic or Co-development PartnerGrinnell Mutual has partnered with IntelliCorp to provide commercial background check services to policyholders at discounted rates. The partnership offers a package of $21.75 per background check plus monthly service fee, including department of corrections searches, unlimited single county searches, and SSN verification. This service helps commercial policyholders mitigate hiring risks.
• IntelliCorp (House of Worship)coreStrategic or Co-development PartnerSpecial partnership with IntelliCorp for house of worship policyholders to conduct background checks on existing employees and volunteers at discounted rates of $21.75 per check. Includes waived activation fee and validated criminal database searches.
• J.J. KellercoreStrategic or Co-development PartnerGrinnell Mutual provides commercial policyholders access to J.J. Keller's library of on-demand safety training videos. This partnership offers specialized safety training content for high-risk industries through a secure website accessible with an access code provided to policyholders.
• CyberScoutminorStrategic or Co-development PartnerGrinnell Mutual provides free access to fraud specialists at CyberScout as part of identity theft protection for farm policyholders, offering identity management and fraud education services.
• BeazleycoreStrategic or Co-development PartnerGrinnell Mutual has partnered with Beazley, a leading insurer of information security risks, to provide cyber liability and data breach response coverage to commercial policyholders. Coverage includes breach response, third-party liability, and access to online resources and webinars.
• IntelliCorp (Background Screening)coreStrategic or Co-development PartnerPartnership with IntelliCorp to offer risk-mitigating products for hiring and screening of new employees. Available to commercial policyholders with special pricing.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Auto-Owners Insurance: Mid-sized mutual property-casualty insurer writing personal, commercial, and life lines across the Midwest and Southeast through independent agents — the closest structural analog to Grinnell Mutual in size, mutual ownership, and agent-channel distribution.
• Erie Insurance: Regional mutual P&C insurer with a strong personal-lines and small-commercial franchise distributed exclusively through independent agents across the Midwest, Mid-Atlantic, and Southeast — directly comparable in mutual structure and channel model.
• Cincinnati Financial: Midwest-headquartered P&C carrier using independent agents with a notable commercial-_lines focus and excess-and-surplus capabilities; comparable to Grinnell Mutual in mutual structure, regional concentration, and agent distribution.
• Westfield Insurance: Ohio-based mutual P&C insurer offering personal, commercial, farm, and surety lines through independent agents in the Midwest — directly comparable on geographic footprint, mutual ownership, and farm/commercial mix.
• Shelter Insurance: Mutual P&C and life insurer headquartered in Missouri, distributed through captive and independent agents across the Midwest — overlapping territory and product mix with Grinnell Mutual, particularly in personal and small-commercial lines.
• Country Financial: Midwest-based mutual insurer with a strong farm/agribusiness franchise (Country Hedging, farm underwriting) plus personal and commercial lines — directly comparable to Grinnell Mutual in mutual structure, Midwest territory, and farm-insurance specialization.
• EMC Insurance: Iowa-based P&C insurer with both direct commercial writing and reinsurance assumed through EMC Reinsurance — closely comparable to Grinnell Mutual given the shared Iowa headquarters, mutual ownership, and combined primary/reinsurance business model.
• Farm Bureau Financial Group: Multi-state Farm Bureau-affiliated mutual offering farm, crop, personal, and commercial insurance across the Midwest — a direct peer in farm-insurance specialization, mutual ownership, and agent-driven Midwest distribution.

Broad incumbents

• Nationwide Mutual Insurance: Large national mutual P&C carrier with a significant agribusiness and farm underwriting unit operating across the Midwest — overlaps directly with Grinnell Mutual in farm and commercial lines but at materially greater scale and geographic breadth.

Regional players

• Donegal Group: Regional mutual holding company writing P&C through independent agents in the Mid-Atlantic and Midwest — comparable in mutual structure and agent-channel distribution but focused more heavily east of Grinnell Mutual's core territory.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/grinnellmutual
• Facebookfacebook.com/mygrinnellmutual
• LinkedInlinkedin.com/company/101694
• Xx.com/grinnellmutual

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Grinnell Mutual