Rural Mutual Insurance Declares 5% Farm Dividend for Eighth Year

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Feb 19, 2024, 10:00 ET

Over $23 Million Given Back to Farm Policyholders Since 2017

MADISON, Wis., Feb. 19, 2024 /PRNewswire/ -- The Board of Directors for Rural Mutual Insurance Company declared a 5% dividend on all eligible farm policies for 2023 farm policyholders. This is the eighth year in a row a Farm Dividend has been declared.

In 2024, an estimated $3.3 million will be paid out upon farm policy renewals. Farmers will start to receive dividend checks in late February and early March. Over the past eight years, Rural Mutual has paid out $23.6 million to their farm policyholders in Wisconsin.

"This is the program's most substantial payout yet," said Dan Merk, Executive Vice President and CEO of Rural Mutual Insurance. "I take great pride that our company's financial success allows us to reinvest in Wisconsin farms. As an organization rooted in agriculture, the Farm Dividend is a way for us to show our appreciation for the lifeblood of our state."

In 2017, Rural Mutual Insurance became the first Wisconsin-based insurance company to offer farm policyholders a dividend. The Farm Dividend is one of the ways Rural Mutual continues to support its farm policyholders. It also reinforces Rural Mutual's strong relationship with the Wisconsin Farm Bureau Federation.

Rural Mutual is the number one writer of farm insurance in Wisconsin. The company was founded by farmers to better understand their unique insurance needs, no matter the size of the farm operation. Rural Mutual is a single-state insurer, so local agents' knowledge is specific to Wisconsin. Its farm coverage options include home and personal items, farm buildings, vehicles, farm personal property and workers' compensation for farm employees.

For more information, please reach out to a Rural Mutual Agent, or visit RuralMutual.com/farmdividend.

About Rural Mutual Insurance
Rural Mutual Insurance Company has been protecting Wisconsin for 90 years. As an AM Best A+ Superior company, Rural Mutual provides a full line of insurance products exclusively to families, businesses and farms in Wisconsin. The company is headquartered in Madison, WI, with over 150 local agents across the state.

SOURCE Rural Mutual Insurance Company