[January 14, 2016]

New Church Mutual Leaders Will Focus on Growth

Church Mutual Insurance Company today announced additional succession planning of the company's senior executive financial leadership as it continues to pursue growth opportunities.

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Jeffrey Steffen, Vice President and Chief Financial Officer, Church Mutual Insurance Company (Photo: Business Wire)

The CMIC Board of Directors approved the promotion of Kevin Root to Senior Vice President - Operations and Jeffrey Steffen to Vice President and Chief Financial Officer.

Kevin Root, CPA, joined Church Mutual in September 2012 as vice president and chief financial officer. In his new role, he will lead operations of the corporate administrative functions supporting CMIC, CM|Vantage, and in 2016, the newly-acquired SBIC and SCS (News - Alert) companies.

Jeff Steffen, CPA, brings 22 years of business and insurance experience to the CFO position. That includes three years as Church Mutual's director of financial planning and analysis. Steffen's extensive accounting experience is supported by both bachelors and masters degrees.

"Together Kevin and Jeff make up one of the strongest financial and operational tandems in the industry," said CEO Richard V. Poirier.

Poirier recently took the helm of the property and casualty insurance company upon the approval of its board.

"We expect this leadership transition to be seamless," said Allen Leverett, non-executive board chairman. "The members of the board and senior management followed a thorough succession planning process. Rich, who joined Church Mutual in 2011 from a senior management position at Liberty Mutual Insurance Company, has extensive industry experience in addition to most recently serving as president of the company. The board is excited to have Rich and his team lead Church Mutual and carry on its tradition."

About Church Mutual Insurance Company

Church Mutual Insurance Company was founded in 1897 and offers specialized insurance for religious organizations of all denominations, including religious-related schools, camps, denominational offices and senior living facilities. Church Mutual markets most lines of commercial property and liability insurance, including multi-peril, workers' compensation and commercial auto insurance.

Fact Sheet

Church Mutual's mission is to be the premier provider of insurance services to our customers in the religious institutional marketplace and other compatible markets.

Headquarters

• 3000 Schuster Lane, Merrill, WI

Founded

• 1897

Financials

• $1.45 Billion in Assets (2014)
• $580 Million in Policyholders' Surplus (2015 EST.)
• $660 Million in Direct Premiums Written (2015 EST.)

Market Area

• All 50 states and the District of Columbia

Products and Services

• Most lines of commercial property and liability insurance, including multi-peril, workers' compensation and commercial auto insurance

Insurance Specialty

• Churches, schools (public/private, K-University), camps, conference centers and assisted living centers

Number of Employees

• 802 home office
• 242 in the field

Awards and Recognition

• "A (Excellent)" rating with A.M. Best Company
• 2015 Ward's 50 Top Performing Property and Casualty Insurance Companies
• National Customer Service Center ranked top 10 in nation by BenchmarkPortal (News - Alert)

Website

• www.churchmutual.com

View source version on businesswire.com: http://www.businesswire.com/news/home/20160114005874/en/

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