Central Illinois Mutual Insurance Company

What Central Illinois Mutual Insurance Company does

Central Illinois Mutual Insurance Company (CIMICO) is a private, policyholder-owned mutual insurance company founded in 1892 as Pesotum Mutual Fire Insurance Company and headquartered in Villa Grove, Illinois. The company underwrites property insurance exclusively, with a specialization in farm property coverage (barns, equipment, homes) against fire and wind losses, and also offers homeowner, rental dwelling, tenant, and mobile home property policies to customers across Illinois. As an Illinois farm mutual operating under the Farm Mutual Act, the company provides property coverage only, with farm liability and personal liability coverages delivered through a core partnership with Grinnell Mutual Reinsurance Company, which also serves as the company's catastrophic reinsurance provider and an auto-insurance bundling partner.

The company distributes all products exclusively through a network of professional independent insurance agents across Illinois, including agencies such as AMT Insurance Services, Fox Valley Insurance Center, Calfa for Insurance, and Preston Insurance. Policyholders transact through these agents rather than directly, with online payment and an agent dashboard (via imtapps) providing limited digital touchpoints. Revenue is generated through recurring property insurance premiums, with quote-based pricing and discounts for newer homes, brick homes, and good claims experience. The company holds memberships in NAMIC and IAMIC, the principal U.S. and Illinois mutual insurance trade associations.

The company has grown historically through mergers with other small Illinois farm mutuals, most recently completing a merger with Kane County Mutual on January 1, 2024. Leadership transitioned in April 2025 with the appointment of Mike Godby as Mutual Manager, and the company has continued to add underwriting, claims, and customer-service staff through 2025-2026. A recent change to the Illinois Farm Mutual Act (SB 765) led the company to reduce its catastrophic reinsurance from unlimited to adequate coverage, increasing member assessment risk in severe-loss scenarios. There are no public financials, no app, no digital distribution platform, and no disclosed technology stack beyond the imtapps agent and payment systems.

Name

Central Illinois Mutual Insurance Company

Legal name

Central Illinois Mutual Insurance Company

Website

https://cimico.net

Company type

Private

Founded year

1892

Operating status

Operating

Headcount range

1–10 employees

Short description

Central Illinois Mutual Insurance Company is a policyholder-owned farm mutual founded in 1892 that underwrites property insurance (farm, homeowner, rental, tenant, mobile home) for customers across Illinois, distributed exclusively through independent agents, with liability and reinsurance provided by Grinnell Mutual.

Ownership category

akta.pro rank

Product category

Property Insurance (Mutual Farm and Residential)

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Crop & Farm Property Insurance (FSAJACAK)

Keywords

• Farm property insurance
• Mutual insurance company
• Homeowners insurance
• Independent agent network
• Reinsurance partnerships

Headquarters

HQ city

Villa Grove

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: The company generates revenue through insurance premiums from property coverage policies including farm property, homeowners, rental dwellings, tenants, and mobile homes. As an Illinois farm mutual, the company provides property insurance only; liability coverage is provided through a partnership with Grinnell Mutual.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Central Illinois Mutual Insurance Company is a policyholder-owned farm mutual that provides property insurance coverage in Illinois, specializing in farm property, homeowners, rental dwellings, tenants, and mobile homes against fire, wind, and other covered perils. Liability coverages are provided through a partnership with Grinnell Mutual Reinsurance Company. Policies are quoted and serviced exclusively through a network of local independent insurance agents.

Product overview

Central Illinois Mutual Insurance Company offers a portfolio of property insurance products focused on farm and residential coverage. The core offerings include Farm Insurance, Homeowner Insurance, Rental Dwelling Insurance, Tenant Insurance, and Mobile Home Insurance. Liability coverages (Farm Liability and Personal Liability) are provided through a partnership with Grinnell Mutual Reinsurance Company. The company offers package policies combining property and liability coverage, with special discounts for newer homes, brick homes, and good claims experience. Auto/home discounts are available for customers who bundle their property insurance with Central Illinois Mutual and auto insurance with Grinnell.

Differentiator

Problem solved

Functional benefit

Products and services

• Farm Property Insurance Property insurance coverage for farm property, including barns, equipment, and homes, specializing in protection against fire and wind losses. Targeted at Illinois farmers and agricultural property owners.
• Homeowner Insurance
• Rental Dwelling Insurance
• Tenant Insurance
• Mobile Home Insurance
• Farm Liability Coverage
• Personal Liability Coverage
• Online Premium Payment Service

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Grinnell Mutual Reinsurance CompanycoreTechnology or IntegrationGrinnell Mutual provides liability insurance coverage and reinsurance protection for Central Illinois Mutual. As an Illinois farm mutual, Central Illinois Mutual provides property insurance only and partners with Grinnell Mutual for liability coverage and other coverages they cannot provide, allowing package policies to be offered to customers. Grinnell Mutual also provides catastrophic reinsurance coverage to protect the company from severe storms.
• National Association of Mutual Insurance Companies (NAMIC)minorOthersCentral Illinois Mutual is a member of NAMIC, the largest and most diverse national property/casualty insurance trade and political advocacy association in the United States with 1,400 member companies.
• Illinois Association of Mutual Insurance Companies (IAMIC)minorOthersCentral Illinois Mutual is a member of IAMIC, organized in 1881 to provide a collective voice for farm mutual insurance companies. The association is dedicated to encouraging and developing high standards of professional conduct among the insurance industry.
• Farm Agents Council / Independent Insurance Agents of IllinoiscoreChannel Partner/ Reseller/ DistributorMany of Central Illinois Mutual's professional independent agents are members of the Farm Agents Council and Independent Insurance Agents of Illinois, representing the company to policyholders across Illinois.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Westfield Insurance:
• Auto-Owners Insurance: Auto-Owners is a large Midwest-based mutual writing property, casualty, and life insurance through independent agents. It overlaps CIMICO's homeowner and farm property lines at much larger scale, representing the broader incumbent pressure CIMICO faces for premium share.
• Erie Insurance: Erie Insurance is a mid-sized mutual property/casualty carrier distributed through exclusive agents across the Midwest and Mid-Atlantic. While not Illinois-concentrated, its mutual structure, agent-based distribution, and homeowner/farm focus make it a relevant broad-incumbent comparable.
• Grinnell Mutual Reinsurance Company: Grinnell Mutual is CIMICO's core partner providing liability coverage and catastrophic reinsurance, but it is also a much larger Midwest farm mutual that directly writes farm and home coverage. It is the natural broad incumbent comparable given the partnership overlap and shared farm-mutual DNA.

Direct peers

• Farm Bureau Financial Group: Farm Bureau Financial Group sells farm, home, and auto insurance to rural and agricultural households across the Midwest, with strong Iowa and Illinois presence. Its agent-based distribution and farm-property specialization make it a direct head-to-head competitor for CIMICO's target customer.
• Shelter Insurance: Shelter Insurance is a Missouri-based mutual offering auto, home, and farm coverage across the Midwest. Comparable to CIMICO in mutual structure, regional focus, and agent-driven distribution serving rural and small-town customers.
• Country Financial (Country Mutual Insurance Company): Country Financial is a major Illinois-headquartered mutual offering farm, home, and auto insurance across the Midwest. It is the most direct competitor to CIMICO within Illinois for farm property and homeowners, with a far larger agent footprint and product breadth.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/SIMPLYCIMICO
• LinkedInlinkedin.com/company/central-illinois-mutual-insurance-company

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Central Illinois Mutual Insurance Company