West Bend Mutual Insurance Company · West Bend, WI United States
Company Description
Phone: 262-334-5571
Fax: 262-335-7010
Toll Free: 800-236-5010
View West Bend Mutual Insurance Company Locations On A US Map
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This link will open in a new window Homeowners in the Midwest might not have to worry about hurricanes or tsunamis, but they have mighty snowstorms to contend with. West Bend Mutual helps protect the property and other assets for its members in seven Midwest states. The company provides personal and commercial property/casualty insurance, including auto, homeowners, workers' compensation, and umbrella coverage. Its National Specialty Insurance division offers specialty policies for businesses including child care centers, tanning parlors, not-for-profit organizations, and athletic leagues. Some 600 independent agencies sell the company's products. West Bend Mutual was founded in 1894. To read the full description, subscribe now.
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Key West Bend Mutual Insurance Company Financials
| Company Type | Private - Mutual Company Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $686.2 |
| Employees | 1,064 |
West Bend Mutual Insurance Company Executives
7 executives listed for West Bend Mutual Insurance Company's West Bend, WI location.
| Title | Name & Bio | Contact |
| Chairman | Anthony Warren | Network |
| President and CEO | Kevin Steiner | Network |
| EVP and CFO | Dale Kent | Network |
Competition
Competitive Landscape for West Bend Mutual Insurance Company
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top West Bend Mutual Insurance Company Competitors
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