POLICYHOLDERS’ 136th ANNUAL MEETING
March 25th, 2025
Dundee Mutual Insurance Company held its 136th annual meeting on March 25th, 2025 at the Community Room of the Park River City office building.
President Luther Meberg called the meeting to order and noted that a quorum of 22 policyholders were present for the meeting. President also noted that the meeting notice is on every policy when sent out and was printed in the local newspapers in Walsh County.
The minutes of the March 26th, 2024 annual meeting were read. A motion was made to accept the minutes, it was seconded, motion carried.
The Secretary presented the 2024 financial report and reviewed the annual statement. Noted was the total income of $1,439,457, $697,510 in claims; and a 2% decrease in the total surplus of $3,992,245. The Secretary referred to the 7-year graph and company growth chart that are reflected in the report. A motion was made to accept the report, it was seconded, motion carried.
President Meberg called on Darin Kaercher of the nominating committee for the 1 expiring term. Darin advised the term for Adam Davis is open for election. President Meberg opened the floor for nominations. A motion was made that a unanimous ballot be cast to re-elect Adam Davis for the 1 expiring term, it was seconded, and the motion carried.
President Meberg referred to the handout that listed the current territory of operation in the 35 counties as listed and there were no changes being made to the current territory. A motion was made to approve the 35 counties as presented, it was seconded and the motion carried.
The Secretary introduced the local agents and guests in attendance – Jacob Suda of First United Insurance, Brad Schanilec Manger of Walsh County Mutual, and Lindsey Johnson Manager of Cass County Mutual and Director of the North Dakota Association of Farm Mutual Insurance Companies.
The Secretary gave an insurance market overview noting the changes in the reinsurance marketplace, current inflation, rate increases that were needed and how those changes directly affected Dundee Mutual and the County Mutuals in our state. The Secretary advised that the company implemented changes in the rating structure for 2024, added additional deductible options to help offset the increases needed. The Secretary also advised that mergers are a part of our future and they may be considered in the near future.
Throughout the meeting various door prizes were handed out provided by Dundee Mutual and our local agents. There being no further business, President Meberg called for a motion to adjourn the meeting. A motion was made to adjourn the meeting, it was seconded and the motion carried. President Meberg invited everyone to stay for noon lunch served by the M&K Concessions.
Board members present were Luther Meberg, Dennis Skorheim, Darin Kaercher and Andy Thompson.
