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MSI Ratings and Company Information
Best Insurance Reports: 01888
Best Rating: A+
Type of Insurance Company: Property and Casualty
Name of Parent Company:
Country Insurance and Financial Services Company
Company History: MSI Preferred Insurance Company was incorporated in 1984 and adopted its current name in 2000. In 2005, MSI became totally owned by Country Mutual, the lead property and casualty insurance company of the Country Insurance & Financial Services Company. The MSI Preferred Insurance Company is licensed in Minnesota, North Dakota and Wisconsin, but new business writings were discontinued in 2005. Country Insurance & Financial Services Company, which traces its beginnings to a 1925 fire and lightning insurer for agriculture, provides life, property and casualty, farm and ranch, disability, farm vehicle and other insurance coverages. Country Trust Bank also provides retirement planning, investment advice, asset management and mutual funds. Country Insurance & Financial Services Company ranks in the top 50 property and casualty insurance organizations in the U.S. based on net written premium. Of its 10 companies, the lead company is the oldest farm bureau insurance company active in the United states today. Its main businesses are private passenger automobile and homeowner's lines, farm and small "main street" commercial insurance including agricultural coverages in farm bureau sponsored states, but it has been expanding its multi-line personal policies and specialty niche commercial products. Illinois accounts for approximately 46% of total direct premium with 35 additional states making up the rest.
Principle Sales Methods: Business is produced through approximately 3,125 agents including about 2,200 exclusive agents and about 925 independent agents.
Life Annuity Business: Country offers term and cash value life insurance policies.
Auto Business: Automotive coverages are offered for private passenger auto coverages (both liability and physical damage), especially for farm vehicles.
Homeowners Business: Farm and ranch insurance.
Health Business: Disability plans are available through Country's life and health insurance subsidiaries.
Company Financial Status:
Assets & Premiums: The property and casualty companies of Country Insurance & Financial Services had assets of $3.5 billion at the end of 2005 and premium income of $2.0 billion for 2005. In addition, the life insurance companies had assets of $6.9 billion at the end of 2005 and premium income for the year was $0.6 billion.
Lines of Insurance:
Auto, Long Term Care, Life, Disability, Homeowners
States licensed to sell insurance in:
AL, AK, AZ, AR, CO, CT, DE, FL, GA, ID, IL, IN, IA, KS, KY, ME, MD, MA, MI, MN, MO, MT, NE, NV, NM, ND, OH, OK, OR, PA, RI, SD, TN, TX, WA, WI, WY