Farmers Alliance Holds 130th Annual Policyholder Meeting
The 130th annual Policyholder Meeting was held on Tuesday, February 27, 2018, at the company’s home office in McPherson, Kansas. Attended primarily by the company’s Board of Directors, executive management team and several policyholders (others represented by proxy), the group heard from Chairman of the Board and Chief Executive Officer L. Keith Birkhead. A Treasurer’s Report was provided by W. Paul Taliaferro, Chief Financial Officer.
Birkhead and Taliaferro reported that in spite of an average year for storm losses, the company experienced very good results in all areas during 2017, and continues to be positioned for steady, profitable growth in its target markets — farm and ranch insurance in the eight-state marketing territory. Policyholder Surplus and Admitted Assets reached new high levels, and the Combined Ratio, a key indicator of profitability, was reported at a healthy 99.08. The company continues to carry an A- (Excellent, Stable) rating from the A.M. Best Company, another strong indicator of financial strength.
During the meeting, two new Directors were elected to the Board, I. John Cholnoky and Donald W. Schwegman, and two current Directors were re-elected for new terms, Eric J. Larson and Brett A. Reber. They join continuing Directors Robert M. Alexander, Vincent Amanor-Boadu, R. J. Breidenthal, Jr., Marilyn Pauly, and Mr. Birkhead. Also during the meeting, three retiring directors were recognized for their service to the Farmers Alliance Board of Directors. Each was recognized with a Board resolution acknowledging their contributions to the organization, and thanking them for their dedication:
Sheila Frahm — 16 years of service. Resolution presented by Marilyn Pauly.
Joseph W. Jeter — 12 years of service. Resolution presented by Eric Larson.
Joe F. Jenkins, II — 47 years of service. Resolution presented by R. J. Breidenthal, Jr. Mr. Jenkins’ service ranks second in all-time year of service to the Farmers Alliance Board of Directors.
Birkhead concluded the meeting thanking all directors and employees, and noting that the successes we are now experiencing are because of the hard work and dedication of the Directors and staff throughout our long history.
L to R: Keith Birkhead, Joe Jenkins, Jay Breidenthal
L to R: Eric Larson, Joe Jeter, Keith Birkhead
L to R: Marilyn Pauly, Sheila Frahm, Keith Birkhead