Germania Today | Spring 2020

Germania Today | Spring 2020

Insightful information for you | Spring 2020 T GERMANIA TODAY

crowd from the Standing out Page 7

Director elections: We want to hear from you Page 4 How to avoid a wildlife collision in Texas and what to do if you can’t Page 8

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Contents

GERMANIA TODAY Insightful information for you

6 Rental car

8

coverage: what you need to know

How to avoid a wildlife collision in Texas and what to do if you can’t

Spring 2020 | Volume 46, Issue 1

Germania Farm Mutual Insurance Association 507 Highway 290 East Brenham, Texas 77833 800-392-2202 germaniainsurance.com

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A Message from our President

2020 GFM director election: We want to hear from you

Paul Ehlert

President & Chief Executive Officer Executive Vice President & Chief Marketing Officer Director of Communication

GFM Board of Directors seeking qualified candidates to serve

Min Choi

Melisa Bosse

Elizabeth Kamenicky Editor Geoffrey Ullrich

Standing out from the crowd

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Contributing Writer

Shane Butzow

Designer

Recipe - Instant Pot® hard-boiled eggs

Germania Today (USPS 086230) Published quarterly by Germania Farm Mutual Insurance Association Postmaster: Send address changes to Germania Today at P.O. Box 645, Brenham, TX 77834. Periodical postage paid at Brenham, Texas and additional mailing offices. Subscription price is 50 cents per year included in yearly premium.

New full glass coverage option available for OTC

Read our latest blog – Pigs are running wild in Texas

2 | Germania Today

A message from OUR PRESIDENT

Paul Ehlert President & Chief Executive Officer

pring is quickly approaching, and schedules are quickly filling with baseball games, graduations, and bluebonnet portraits. Amidst the hustle and bustle of the season, our agents customarily host annual Local Chapter meetings in April for our Germania Farm Mutual policyholders. Due to the circumstances surrounding the coronavirus (COVID-19), Germania is leaving the decision of holding this year’s Local Chapter meetings at the discretion of our agents. Our foremost interest is to protect the well-being of our agents and policyholders. As a member of a farm mutual insurance company, you are encouraged to have a voice in the organization. In April, you will be asked to vote in the election of our Board of Directors. As a policyholder, this is your opportunity to select members of Germania’s governing board who will provide direction and oversight of the company. You will receive your ballot packet through the mail, and you may cast your vote either by return mail or online during the month of April. Your vote will represent your attendance at your Local Chapter meeting. For every member who votes in the director election, Germania will donate $1 to the St. Baldrick’s Foundation, a volunteer-led charity that focuses on raising funds to help find cures for childhood cancer. In addition to our partnership with St. Baldrick’s Foundation, Germania has also collaborated with a number of notable organizations to extend our reach

across the state of Texas. Our hope is to continue to improve our visibility, so we may locate and service loyal Texans and their insurance needs. You can learn more about these ventures within this issue. This spring, Germania is offering a variety of new and enhanced products for our policyholders, including expanded coverage for outbuildings, full glass coverage on vehicles, and new deductibles for auto. Additionally, we are proud to announce that Germania’s collision claims service has earned high ratings from body shops across the state for its fair and efficient practices. Products and services aside, we believe policyholders deserve the opportunity to be led by a diverse and professional GFM Board of Directors who have their best interests at heart. The Board is currently seeking qualified director candidates who represent gender and ethnic diversity while possessing professional and personal characteristics that align with GFM’s desired Board competencies, corporate values and Guiding Principles. If you or a fellow GFM policyholder would like to be considered for a Director role on the GFM board, please email your name and biographical information to [email protected]. As your schedule continues to fill this spring, don’t forget to pencil in a few important dates on behalf of Germania. We truly appreciate your time, feedback, and participation. Have a great spring!

Spring 2020 | 3

CONSOLIDATED BALANCE SHEET As of December 31, 2019 (unaudited)

Admitted Assets Cash and Investments

$626,957,048

2020 GFM director election: hear from We want to As a policyholder, you have the ultimate control over Germania Farm Mutual (GFM) Insurance Association through your election of the members of its Board of Directors. In April, you, as a GFM policyholder, will have the opportunity to vote on this year’s slate of directors. Ballot packets have been mailed to all GFM policyholders at the end of March. Look for the envelope with Germania’s name and logo and labeled “Germania Director Ballot Enclosed.” You can either vote online or by return mail. Voting is easy, and we encourage you to participate as a member of this organization. GFM 2020 director candidates GFM’s Board is currently 15 in number, and each board member serves a term of three years. These terms are staggered to ensure only one-third of the board seats are up for election each year. This year’s candidates vying for the five vacant board seats are K. Don McAfee, C. H. Herring, Jr., Ralph A. Beadle, Dwayne W. Herring, and Russell C. Janecka. Pictures and biographical information for each candidate is included in the ballot packet mailed to you or can be viewed online at www.germaniainsurance.com by clicking the 2020 Director Election link located on the homepage. you

Real Estate and Equipment

5,093,280 158,541,513 4,380,497 4,665,290 16,969,520 5,843,149

Premiums Receivable

Accrued Investment Income Reinsurance Recoverable

Net Deferred Tax Asset

Other Assets Total Assets

$822,450,297

Liabilities and Surplus Unearned Premiums Life Future Policy Benefits Federal Income Tax Payable Loss and Loss Adjustment Expenses

$284,965,978

131,362,115 86,800,591

142,357

Other Liabilities Total Liabilities

59,282,291 562,553,332 259,896,965 $822,450,297

Policyholders’ Surplus

Total Liabilities and Surplus

CONSOLIDATED INCOME STATEMENT For the year ended December 31, 2019 (unaudited) Underwriting Income Net Premiums Written $568,857,888 Change in Unearned Premiums 30,378,628 Net Premiums Earned $538,479,260 Net Losses Incurred $314,826,048 Loss Expenses Incurred 58,072,146 Underwriting Expenses Incurred 155,603,743 Increase in Life Future Policy Benefits 3,210,680 Net Losses and Expenses Incurred $531,712,617 Underwriting Gain $6,766,643 Net Investment Income 17,781,124 Other Income 2,120,850 Net Income before Taxes 26,668,617 Federal Income Taxes 4,967,451 Net Income $21,701,166

CLAIMS PAID BY PERIL Storm

$120,594,143

Fire

27,430,912 17,556,447 1,930,095 4,719,395

Water Theft Other

Total

$172,230,992

4 | Germania Today

t Germania, we believe GFM policyholders deserve the opportunity to be led by a diverse and professional board of directors. The Board is currently seeking qualified individuals who represent gender and/or ethnic diversity, possess professional skills that align with GFM’s desired Board competencies, and have personal characteristics that align with GFM’s corporate values and Guiding Principles. Current competencies being sought for the Board are as follows: Strategy : An understanding of strategic planning, implementation, and review processes; having been actively involved in strategy development at a senior leadership or board level position. Information Technology : An in-depth knowledge of information technology systems, integrations, software development, >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12

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