$100 Million Milestone
January 23, 2020
Merchants Bonding Company exceeded $100 million in contract premium for the first time in company history in 2019. “This level of production is a demonstration of the hard work and commitment of our contract underwriters and assistants to providing common sense solutions and first class experiences to all of our agents,” said Josh Penwell, Sr. Vice President of Contract Underwriting. Contract premium grew 11 percent while maintaining a loss ratio presumably below the industry average.
The contract underwriting team in the West Des Moines office celebrated the milestone with a barbecue luncheon where Vice President of Contract Underwriting Jason Dettbarn shared a look back on moments in history and the growth of the company.