First Maxfield Mutual Insurance Association
First Maxfield Mutual Insurance Association is a 1860-founded regional mutual insurer serving northeast Iowa with farm, home, tenant, and liability products distributed through local community-based agents, insuring over 11,000 policyholders with more than $5 billion in coverage in force.
- Company typePrivate
- Founded1860
- HeadquartersDenver, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What First Maxfield Mutual Insurance Association does
First Maxfield Mutual Insurance Association is a regional mutual property-and-casualty insurer headquartered in Denver, Iowa, founded in 1860 by a group of German farmers meeting after services at St. John's Evangelical Lutheran Church in Maxfield township, Bremer County. The company writes four core product lines — Home-Guard® (homeowner), Farm-Guard® (farm owner and tenant), Tenant Home Guard (renters), and Liability Insurance (Farm Liability, OL&T, and Comprehensive Personal Liability, which must be bundled with a property policy) — distributed exclusively through a network of licensed community-based agents embedded across six northeast Iowa counties: Bremer, Fayette, Black Hawk, Butler, Buchanan, and Floyd.
The underlying technology stack is conventional for a regional mutual: an IMT APPS-based Agent Portal for licensed agents to manage policies and submit claims, a website-hosted online claims reporting form available 24/7, and an InvoiceCloud-integrated online payment portal for policyholder self-service. Claims are assisted by an external partner (NCP Group). The company holds registered trademarks for Home-Guard® and Farm-Guard® and is a member of the Grinnell Mutual Reinsurance Group for reinsurance capacity. There is no public disclosure of proprietary underwriting models, AI-driven risk scoring, or advanced data platforms.
First Maxfield Mutual generates revenue through annual insurance premiums paid by policyholders, with pricing quote-based on property value, coverage limits, location, and individual risk factors. The company is structured as a mutual insurance association — owned by its policyholders rather than external shareholders — and reports more than 11,000 active policyholders and over $5 billion of insurance in force as of 2023. Customer acquisition is driven by local agent relationships and a website-supported agent-locator tool, with no direct-to-consumer online binding channel and no institutional or venture funding. The operating model emphasizes stable rates, prompt personal service, and local decision-making as the primary value proposition versus national carriers.
First Maxfield Mutual Insurance Association firmographics
Firmographics- Name
- First Maxfield Mutual Insurance Association
- Legal name
- First Maxfield Mutual Insurance Association
- Website
- https://firstmaxfield.com
- Company type
- Private
- Founded year
- 1860
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- First Maxfield Mutual Insurance Association is a 1860-founded regional mutual insurer serving northeast Iowa with farm, home, tenant, and liability products distributed through local community-based agents, insuring over 11,000 policyholders with more than $5 billion in coverage in force.
- Ownership category
- akta.pro rank
First Maxfield Mutual Insurance Association industry classification
Industry- Product category
- Property and Casualty Insurance
- NAICS
- Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Carriers (5241)
- SIC
- Insurance Carriers, Nec (6399), Fire, Marine & Casualty Insurance (6331)
- akta.pro primary industry
- Surplus Lines Property (CAT/High-Hazard) (FSAJAGAB)
Keywords
Where First Maxfield Mutual Insurance Association is headquartered
LocationHeadquarters
- HQ city
- Denver
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
First Maxfield Mutual Insurance Association business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Property & Casualty Insurance Premiums: First Maxfield Mutual generates revenue through insurance premiums from policyholders. The company provides farm insurance, home insurance, tenant coverage, and liability insurance products. As a mutual insurance association, it is owned by policyholders and operates to provide insurance protection at equitable rates.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Farm Insurance - Customizable coverage for farm owners and tenants |
| Other | Annual | Home Insurance - Home-Guard policy for homeowners |
| Other | Annual | Tenant Coverage - Tenant Home Guard policy |
| Other | Annual | Liability Insurance - Must be written with property policy |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
First Maxfield Mutual Insurance Association product offering
Product offeringCore offering
First Maxfield Mutual Insurance Association is a regional mutual insurance provider that underwrites and sells property and casualty insurance products — including farm, home, tenant, and liability coverages — through a network of licensed local agents across northeast Iowa counties. As a mutual association, it is owned by its policyholders and generates revenue primarily through insurance premiums.
Product overview
First Maxfield Mutual Insurance Association is a regional mutual insurance provider offering a portfolio of property and liability insurance products. The company provides four core insurance products: Home-Guard® (homeowners coverage), Farm-Guard® (farm/agricultural coverage), Tenant Home Guard (renters coverage), and Liability Insurance (Farm, OL&T, and CPL). All products are distributed through a network of local community-based agents in northeast Iowa counties. The company primarily serves policyholders in Bremer, Fayette, Black Hawk, Butler, Buchanan, and Floyd counties, insuring more than 11,000 policyholders with over $5 billion of insurance in force as of 2023.
Differentiator
Problem solved
Functional benefit
Products and services
- Home-Guard Policy Comprehensive home insurance policy providing protection for dwellings and personal property for homeowners in northeast Iowa, including coverage for accidents or injuries occurring on the property.
- Farm-Guard Policy Farm insurance policy protecting farm owners and tenants against financial disaster from accidents or injuries on their farms, with broad standard coverages and optional customizable protections for diverse farming operations.
- Tenant Home Guard Tenant coverage protecting personal property, additional living expenses, personal liability, and personal injury for non-homeowners who rent or lease their residence.
- Liability Insurance Liability coverage including Farm Liability, Owners Landlords and Tenants Liability (OL&T), and Comprehensive Personal Liability (CPL). Must be written in conjunction with a property policy.
Quantifiable outcome
- Over 11,000 policyholders insured across northeast Iowa
- +2 more outcomes
Companies that use First Maxfield Mutual Insurance Association
Customer profileSegments3 records
Ideal customer profiles3 records
First Maxfield Mutual Insurance Association technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature5 records
First Maxfield Mutual Insurance Association partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Grinnell MutualcoreFirst Maxfield Mutual displays the Grinnell Mutual member logo on its website, indicating membership in the Grinnell Mutual Reinsurance Group. As a member of this mutual insurance association group, First Maxfield participates in reinsurance arrangements and shares in the collective resources of member companies.
Scale indicators3 records
Expansion highlights4 records
First Maxfield Mutual Insurance Association competitors and assessment
Company assessmentDirect peers
- Grinnell Mutual: Iowa-headquartered mutual reinsurer and direct writer serving the Midwest. Directly comparable as the reinsurance partner of First Maxfield Mutual and a fellow Iowa mutual; operates a similar regional, agent-distributed P&C model across multiple Midwestern states.
- IMT Insurance (Iowa Mutual Insurance): Iowa-based mutual P&C insurer operating through independent agents and the same IMT APPS agent portal used by First Maxfield. Closely comparable in mutual structure, regional Midwest footprint, and agent-led distribution.
- West Bend Mutual Insurance Company: Wisconsin-based regional mutual P&C insurer distributing through independent agents. Comparable in mutual ownership structure, agent-based model, and focus on personal lines plus small commercial in the upper Midwest.
- Western National Mutual Insurance: Minneapolis-based mutual insurance group offering personal and commercial P&C through regional agents. Comparable as a Midwest-focused mutual P&C carrier using independent agent distribution.
- NJM Insurance Group: Mutual P&C carrier distributing through a mix of direct and agent channels in the Mid-Atlantic. Comparable mutual ownership structure and personal-lines orientation with strong regional brand.
Regional players
- EMC Insurance Companies: Iowa-domiciled P&C carrier (Employers Mutual) with personal and commercial lines. Comparable Iowa footprint and regional agent distribution, though larger and publicly listed via EMC Insurance Group.
- Iowa Farm Bureau Federation / FBL Financial Group: Iowa farm-bureau affiliated insurer serving farm and rural households across Iowa and the Midwest. Directly comparable target customer (Iowa farm owners) with similar regional focus.
- Donegal Group: Pennsylvania-based regional P&C insurer anchored by Donegal Mutual. Comparable mutual-anchored P&C carrier model distributed through independent agents in geographically concentrated regions.
Broad incumbents
- Auto-Owners Insurance: Mutual P&C carrier operating across the Midwest and Southeast through independent agents. Comparable mutual structure and multi-state regional P&C model, though significantly larger and broader in product offering.
- Cincinnati Financial: Ohio-based publicly-traded P&C insurer distributed primarily through independent agents across the Midwest. Comparable independent-agent distribution and personal/commercial P&C focus.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
First Maxfield Mutual Insurance Association financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Maxfield Mutual Insurance Association leadership team
Management profileNumber of profiles
First Maxfield Mutual Insurance Association funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Maxfield Mutual Insurance Association M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Maxfield Mutual Insurance Association
What does First Maxfield Mutual Insurance Association do?
First Maxfield Mutual Insurance Association is a regional mutual insurance provider that underwrites and sells property and casualty insurance products — including farm, home, tenant, and liability coverages — through a network of licensed local agents across northeast Iowa counties. As a mutual association, it is owned by its policyholders and generates revenue primarily through insurance premiums.
Is First Maxfield Mutual Insurance Association a public or private company?
First Maxfield Mutual Insurance Association is a private company. It is classified as management employee owned and is currently operating.
When was First Maxfield Mutual Insurance Association founded?
First Maxfield Mutual Insurance Association was founded in 1860. It employs 11 to 50 people.
Where is First Maxfield Mutual Insurance Association based?
First Maxfield Mutual Insurance Association is headquartered in Denver, United States, in the North America region.
How does First Maxfield Mutual Insurance Association make money?
One revenue line is on record: property & Casualty Insurance Premiums.
Who are First Maxfield Mutual Insurance Association's main competitors?
Direct peers on record are Grinnell Mutual, IMT Insurance (Iowa Mutual Insurance), West Bend Mutual Insurance Company, Western National Mutual Insurance and NJM Insurance Group. Regional players are EMC Insurance Companies, Iowa Farm Bureau Federation / FBL Financial Group and Donegal Group. Broad incumbents are Auto-Owners Insurance and Cincinnati Financial.
Does First Maxfield Mutual Insurance Association have an API?
No public API is recorded for First Maxfield Mutual Insurance Association.
What industry is First Maxfield Mutual Insurance Association in?
First Maxfield Mutual Insurance Association's product category is Property and Casualty Insurance. Its primary akta.pro industry code is FSAJAGAB, Surplus Lines Property (CAT/High-Hazard). Its NAICS code is 52412 and its SIC code is 6399.