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Last Revised:
November 20, 2008
Mennonites are an ethnic/religious group that originated at the time of the Reformation in Holland and Switzerland. They started to immigrate to Canada in the late 1800's. A group of them settled in the Saskatchewan Valley (between the two branches of the Saskatchewan River, north of Saskatoon).
Mennonites have always had a strong program of mutual aid. Before the turn of the century, a mutual aid society, including fire insurance, was started from a church-affiliated base. Provision was also made for the social needs of the people when there was sickness or death within the group, and for the well-being of the widows and orphans.
These needs were at first met through a separate arm of this early mutual aid society. This arm eventually grew into Mennonite Trust Limited, which is now a separate entity also with its head office in Waldheim.
In 1917, the fire
insurance arm was incorporated under Saskatchewan laws and began to provide
insurance to the larger community under the name "Mennonite Mutual Fire Insurance
Company". However, it was not until the 1970's, when the company amalgamated with
Prairie Mennonite Fire Insurance, located in Swift Current, that rapid expansion took
place. Independent agents were given contracts and insurance was offered to the general
public. In 1980 a new modern office building was constructed in Waldheim.
SIZE, FINANCIAL STRENGTH, CONTROL
MMFI has insurance for:
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A full range of coverage is available for each of the above. Insurance products are now being provided through approximately 100 independent brokers to more than 12,000 policy holders.
As of 2006 the company had written premium volume of 10 million.
Reinsurance adequately protects for large losses or in the event of a catastrophe.
MMFI, being a mutual company, is subject to the Provincial Insurance Act and meets the requirements applicable to a mutual insurance company. It is owned by its policy holders, who elect a board of directors from the membership at an annual meeting. The six-member board meets every other month to direct the affairs of the company, which are carried out by the Chief Executive Officer and a staff of 26.
MMFI is dedicated to providing top quality insurance services to its clients. Adequate coverage is encouraged. Rates are constantly reviewed to ensure that they are fair and equitable. Risk consultations are provided to help prevent losses. At the time of loss, a concerted effort is made to provide an empathic service and equitable claims settlements.
A fully trained underwriting, claims, risk consulting, and clerical staff is willing and able to respond quickly to provide a full service to the insuring public. Members of the staff are from the local area and most are long-time employees of the company.
The company is based in a small town, but its staff and directors are familiar with the needs of all the people it serves. Its size and financial strength allow it to respond quickly to changes in insurance needs and, at the same time, through adequate reserves, reinsurance and a dedicated staff, maintain its integrity of purpose. MMFI has proven that, with proficient management and staff, assisted by up-to-date technology, it is fully able to compete with larger city-based insurance companies and, in some areas, it is capable of providing superior service and value.
We are at your service.