Farm Bureau Insurance of Tennessee posted positive results in growth and business retention for a fourth consecutive year in 2016, leading to a strengthening of the company’s financial position, officials announced Friday.

Farm Bureau Insurance’s property and casualty operations saw its home and automobile business expand by almost exactly 40,000 units, while customer retention in all business lines remained among the highest in the industry. The life insurance company maintained its position as the number one writer of individual life insurance in Tennessee. Dividends to shareholders of both companies and increased stock valuations were announced at the Farm Bureau Insurance annual meeting in Franklin, Tenn.

Chief Executive Officer Jeff Pannell, who succeeded retiring CEO Sonny Scoggins at the first of the year, gave an overview of company history and outlined some points of emphasis moving forward. He targeted growth in automobile business and refocusing information technology on customer service. Maintaining a low expense factor and fostering personal relationships will remain hallmarks of Farm Bureau Insurance, Pannell said.

“As long as I am in this office, people will be able to say that when you deal with Farm Bureau Insurance, you are dealing with good people who care about you,” Pannell said.

Farm Bureau Insurance of Tennessee is the trade name for the group of companies including Tennessee Farmers Mutual Insurance Company, Tennessee Farmers Assurance Company and Tennessee Farmers Life Insurance Company.  Headquartered in Columbia, Tenn., the companies provide insurance services for members of the Tennessee Farm Bureau Federation. 


Excellent business retention, calm weather, and consistently high agency force productivity in 2015 contributed to Farm Bureau Insurance of Tennessee maintaining its positive gains for a third consecutive year.

Farm Bureau Insurance’s property and casualty operations saw automobile business retention rise to 96.8 percent, while homeowner and farmowner retention remained high. The life company regained its position as the number one writer of life insurance in Tennessee. Dividends to shareholders and increased stock valuations were announced at the Farm Bureau Insurance annual meeting in Franklin.


 

Riding a wave of profitability initiatives, favorable weather trends, and warm personal relationships with customers and business associates, Farm Bureau Insurance of Tennessee posted a second consecutive year of excellent results in 2014. 

Farm Bureau Insurance’s property and casualty operations saw solid gains and continues to cover more automobiles and properties in Tennessee than any other insurer. The life company maintained a consistent trend of outperforming the industry. Dividends to shareholders of both companies and increased stock valuations were announced at the Farm Bureau Insurance annual meeting in Franklin, Tenn.