The Missouri Department of Commerce and Insurance (DCI) announced that the state’s bilateral insurance companies have reported significant reduction in net losses from $ 17.7 million to $ 4.8 million from $ 17.7 million in 2023.
According to the DCI, in 2024, the mutuals managed 205,000 policies, represented more than $ 61 billion in overall coverage.
The DCI approved the insurance pool with a mutual cooperation of Missouri mutual insurance companies, which started work at the end of 2023, after which many co -metals cannot rely on Wisconsin’s insurance provider. The department said that without the approval of the mutual insurance detainees, several mutuals would face integration or closure due to lack of insurance available.
Every participant in the pool reported a profit in 2024. These mutuals earned a net profit of 8 4.8 million at 51.8 million directly in the premium.
“I am happy to see the results of the pool in light of this year’s severe climate, and I am confident that it will play an important role in protecting this important market, serving the farmers and rural communities in the future,” said DCI director Anjila Nelson.
Pool membership has also increased in 2025, which is increasing from 18 to 21 mutual members, which represents about one -third of the state’s 65 -licensed bilateral mutuality.
Source: DCI
Titles
Trends Career Missouri
Was this article valuable?
These are more articles you can enjoy.
Is interested Career?
Get automatic warnings for this title.
