COUNTRY Financial
Encyclopedia
Country Financial is a group of US
insurance
and financial services
companies. Its corporate headquarters are in Bloomington, Illinois
.
Crop insurance
became available in 1926, auto insurance in 1927, and life insurance
in 1929. Financial services, including retirement planning
, estate planning
, investment management
, and annuities
have been available for more than 35 years.
Country has grown exponentially since its founding. In more than 80 years of operation, the insurance and financial services provider grew from a small Illinois company serving only Illinois customers to having agents in 14 states and offering products and services in 40 states.
Country Financial and its alliances now serve about 1 million households and businesses and insure more than 1 million vehicles and a half a million homes throughout the United States. The organization currently has 3,600 employees and more than 2,000 agents
Country has several corporate offices. Three are located in Bloomington, Illinois
, and the others are in Arden Hills, Minnesota
; Salem, Oregon
; Atlanta, Georgia
(Cotton States); Middletown, Connecticut
(Middle Oak); and Salem, Massachusetts
(Middle Oak).
Weiss Ratings awarded COUNTRY Life an A+ rating, which is the highest given by the ratings agency. COUNTRY Mutual earned a B+ rating, place it among the 81 strongest auto, home and business insurers.
A.M. Best Company, Inc.
has affirmed the A+ Superior for the property and casualty and primary life and health companies within COUNTRY Financial. COUNTRY has been rated A or higher by Best's for more than 75 consecutive years.
Country ranked at 624 on the 2011 Fortune 1000 list. Country ranked third among companies listed in Fortune’s property and casualty mutual insurance company category – the same ranking as the last three years.
2009 Revenue: 3.15 billion USD
2008 Revenue: 3.135 billion USD
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
and financial services
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
companies. Its corporate headquarters are in Bloomington, Illinois
Bloomington, Illinois
Bloomington is a city in McLean County, Illinois, United States and the county seat. It is adjacent to Normal, Illinois, and is the more populous of the two principal municipalities of the Bloomington-Normal metropolitan area...
.
History
Country was founded in 1925 when a group of Illinois Agricultural Association members developed an organization to provide fire and lightning insurance. The farmers created Country because insurance salesmen rarely traveled the dirt and gravel roads to their homes and they were being charged the same rates as city dwellers. In the company's first year of operation, more than 385 Illinois farmers worked part-time, offering insurance services to their friends and neighbors.Crop insurance
Crop insurance
Crop insurance is purchased by agricultural producers, including farmers, ranchers, and others to protect themselves against either the loss of their crops due to natural disasters, such as hail, drought, and floods, or the loss of revenue due to declines in the prices of agricultural commodities...
became available in 1926, auto insurance in 1927, and life insurance
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
in 1929. Financial services, including retirement planning
Retirement planning
Retirement planning, in a financial context, refers to the allocation of finances for retirement. This normally means the setting aside of money or other assets to obtain a steady income at retirement...
, estate planning
Estate planning
Estate planning is the process of anticipating and arranging for the disposal of an estate. Estate planning typically attempts to eliminate uncertainties over the administration of a probate and maximize the value of the estate by reducing taxes and other expenses...
, investment management
Investment management
Investment management is the professional management of various securities and assets in order to meet specified investment goals for the benefit of the investors...
, and annuities
Annuity (US financial products)
In the United States an annuity contract is created when an insured party, usually an individual, pays a life insurance company a single premium that will later be distributed back to the insured party over time...
have been available for more than 35 years.
Country has grown exponentially since its founding. In more than 80 years of operation, the insurance and financial services provider grew from a small Illinois company serving only Illinois customers to having agents in 14 states and offering products and services in 40 states.
Country Financial and its alliances now serve about 1 million households and businesses and insure more than 1 million vehicles and a half a million homes throughout the United States. The organization currently has 3,600 employees and more than 2,000 agents
Country has several corporate offices. Three are located in Bloomington, Illinois
Bloomington, Illinois
Bloomington is a city in McLean County, Illinois, United States and the county seat. It is adjacent to Normal, Illinois, and is the more populous of the two principal municipalities of the Bloomington-Normal metropolitan area...
, and the others are in Arden Hills, Minnesota
Arden Hills, Minnesota
As of the census of 2000, there were 9,652 people, 2,959 households, and 2,228 families residing in the city. The population density was 1,087.3 people per square mile . There were 3,017 housing units at an average density of 339.9 per square mile...
; Salem, Oregon
Salem, Oregon
Salem is the capital of the U.S. state of Oregon, and the county seat of Marion County. It is located in the center of the Willamette Valley alongside the Willamette River, which runs north through the city. The river forms the boundary between Marion and Polk counties, and the city neighborhood...
; Atlanta, Georgia
Atlanta, Georgia
Atlanta is the capital and most populous city in the U.S. state of Georgia. According to the 2010 census, Atlanta's population is 420,003. Atlanta is the cultural and economic center of the Atlanta metropolitan area, which is home to 5,268,860 people and is the ninth largest metropolitan area in...
(Cotton States); Middletown, Connecticut
Middletown, Connecticut
Middletown is a city located in Middlesex County, Connecticut, along the Connecticut River, in the central part of the state, 16 miles south of Hartford. In 1650, it was incorporated as a town under its original Indian name, Mattabeseck. It received its present name in 1653. In 1784, the central...
(Middle Oak); and Salem, Massachusetts
Salem, Massachusetts
Salem is a city in Essex County, Massachusetts, United States. The population was 40,407 at the 2000 census. It and Lawrence are the county seats of Essex County...
(Middle Oak).
Rankings
COUNTRY has had the lowest auto complaint ratio with the Illinois Department of Insurance for 11 of the last 12 years. COUNTRY has ranked among the top two home insurers with the lowest complaint ratio for the last 12 years.Weiss Ratings awarded COUNTRY Life an A+ rating, which is the highest given by the ratings agency. COUNTRY Mutual earned a B+ rating, place it among the 81 strongest auto, home and business insurers.
A.M. Best Company, Inc.
A.M. Best
A.M. Best Company, Inc., headquartered in Oldwick, New Jersey, is a rating agency designated as a Nationally Recognized Statistical Rating Organization by the United States Securities and Exchange Commission....
has affirmed the A+ Superior for the property and casualty and primary life and health companies within COUNTRY Financial. COUNTRY has been rated A or higher by Best's for more than 75 consecutive years.
Country ranked at 624 on the 2011 Fortune 1000 list. Country ranked third among companies listed in Fortune’s property and casualty mutual insurance company category – the same ranking as the last three years.
Country Financial Security Index
The Country Financial Security Index is a bi-monthly measure of Americans' sentiments towards their overall financial security. Based on a national telephone survey of 3,000 Americans, the index tracks how secure Americans feel about their own financial situation in relation to their stage in life. Survey questions range from taking care of short-term needs and protecting current assets to planning for the future.Country Alliance
Country Financial now owns and operates two other insurance companies which falls under a partnership called the Country Alliance. These companies are MiddleOak, which services the northeast portion of the United States, and Cotton States, which services the southeast portion of the United States.CEOs
| CEO | Years Served |
|---|---|
| John Blackburn | 2001–Present |
| Duane Miller | 1974–2001 |
| Darrell Achenbach | 1962–1974 |
Revenue
2010 Revenue: 3.237 billion USD2009 Revenue: 3.15 billion USD
2008 Revenue: 3.135 billion USD