Taking Action 1

TAKINGACTION

2016 Corporate Review

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It takes dedication. It takes innovation. It takes vision. It takes every part of EMC taking action to deliver the best value and service to our customers and stakeholders. As a result, we’re making profitability, teamwork and community impact happen.

EMC Executive Management Team (From left): Scott Jean, Executive Vice President for Finance and Analytics; Kevin Hovick, Executive Vice President and Chief Operating Officer; Bruce Kelley, President, Chief Executive Officer and Treasurer; Jason Bogart, Senior Vice President of Branch Operations; Mick Lovell, Executive Vice President for Corporate Development

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TO OUR CUSTOMERSOnce again, we surpassed our financial goals and broke new records in 2016:

We achieved these remarkable results by taking action to:

• Maintain strong relationships with our agents

• Develop new products and services using innovative solutions to set our agents apart

• Invest in the power of big data to understand our business and improve profitability

• Provide our team members with new technology, tools and training so they can deliver exceptional customer service

Our goal is to offer a rich, consistent experience to every customer—agents, policyholders and team members. And we know this doesn’t just happen. It takes action, dedication, innovation and a vision to be the best.

Bruce G. Kelley, J.D., CPCU, CLU President, Chief Executive Officer and Treasurer

$1.707 Billion

$1.633 Billion

97.9Record net written premium Record surplus Combined ratio

Best since 2006

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ADVANCING OUR AGENTS

We saw profitable results this year thanks to the independent insurance agents who chose to place their business with us. We also owe our success to our outstanding EMC team members and all of our policyholders who place their trust in our company.

We only work through the independent agency system because we believe independent agents bring real value and knowledge to the insurance process and can best represent their clients’ interests. We rely on our agents to represent us, and our products and services, to their clients.

CLOSE TO AGENTSOur unique branch office structure, with 20 locations throughout the country, is ideal for cultivating close relationships with our agents. We’re available in person, on the phone or online anytime our agents need assistance or have questions. Our underwriting, claims, loss control and marketing team members take pride in sharing their extensive knowledge. And our agents know their underwriters on a first-name basis—we’re that close.

LISTENING TO AGENTSEach year, through an independent consultant, we conduct a customer satisfaction survey of our agents to identify areas where we need to improve most. We listen to our agents and then put what we learn into action to improve our products, services and processes. Our focus on continuous improvement is aimed at making EMC the best company for our agents’ business.

Record surplus

— Meeting the Needs of Agents and PolicyholdersWe are always looking for ways to help our agents achieve greater success— because when they are successful, we are too.

It takes dedication.— From Our Agents“I have to let you know what an AMAZING job you did for our client and our agency.”

“Policies, endorsements, quotes are all easy to read and quick to arrive. Claims and loss control are fantastic.”

“The depth of your loss control talent has helped us attract business to EMC.”

“EMC has great underwriters to work with—friendly, personable, professional and quick with responses.”

“I always know that when our insureds have a claim with EMC they will be given top-shelf service.”

Branch offices Service offices Corporate office

Providence

Valley ForgeDavenport

Little Rock

Dallas

Cincinnati

LansingMilwaukee

Kansas City

Wichita

Phoenix

Chicago

Minneapolis

Omaha

Des Moines Corporate Office

Denver

Charlotte

Birmingham

Jackson

Bismarck

Taking Action 5

EMC LOCATIONS

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INVESTING IN THE FUTURE

Not only are we committed to the independent agency system, we’re focused on finding innovative solutions and creating products and services that can set our agents apart. That’s what makes EMC different—our approach to innovation gives our agents more to sell, helps our policyholders and moves the industry into the future.

STRATEGIC ANALYTICSWe formed our Strategic Analytics Department in late 2015, and since then those team members have been actively engaged in the development of claims triage modeling, enhanced dashboards and data reporting. In addition, we created our very own innovation lab led by team members who are empowered to collaborate, make quick decisions and take action.

TELEMATICSOur fleet pilot program that uses telematics was launched through the innovation lab. In 2016, branch office and Corporate Office team members worked closely with an insurance agency and several vendors to explore the use of telematics for fleets. Using the data we’ve gathered from the pilot test, we are enhancing the program so our agents can offer additional benefits to their fleet clients.

— The New Peak FleetTM ProgramWe are building a new platform, Peak FleetTM, that will be agency-branded and introduced to our agents in 2017. This unique platform will help fleet managers improve maintenance and uptime, increase fuel economy and reduce costs associated with replacing drivers.

Taking Action 7Taking Action 7

BIG DATAEMC is serious about using data to find innovative solutions and is willing to invest in companies that can add value for our policyholders and agents. The volume of data is exploding, and companies that can quickly obtain, understand, adapt and use data will secure a huge competitive advantage.

We are enthusiastic about gaining more insight into our risks so we can more accurately underwrite and price our business, and provide a more targeted approach to our loss control services.

GLOBAL INSURANCE ACCELERATORThis past year, EMC joined the Global Insurance Accelerator (GIA), a business accelerator focused on developing and growing innovative insurance-centric startups. As an investor, EMC is helping to fund the insurance technology startups accepted into the program. EMC is also committing staff and company expertise to help mentor startups through the critical early stages of growth. It is to our benefit to invest in the GIA because it fosters innovation and builds solutions to solve contemporary insurance issues such as data sharing, security and risk management.

It takes innovation.

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HELPING OUR POLICYHOLDERS

EMC has been an innovator of loss control services for over 90 years. We’ve advocated for our policyholders, finding ways to help improve their safety and control their losses since 1926. It may have started with simple safety signs, but now we’re taking action in the high-tech world of loss control, advancing into applications, simulators, sensors, drones and more.

WALKWAY CHECKSM

Walkway Check makes it easier for organizations to identify and report hazards that can lead to slip and fall incidents, the leading cause of unintentional injuries in the United States. With the Walkway Check app, organizations can easily report slip and fall hazards and conduct walkway hazard inspections at their facilities.

SUPERVISION® DRIVER MONITORING SERVICES

EMC is giving its commercial policyholders special access to motor vehicle reports (MVRs) and driver monitoring services through SuperVision. SuperVision allows users to monitor violations, license status and MVR updates, import and manage driver rosters and more. These services can help policyholders take control of their fleets and reduce losses.

SLIP AND FALL SIMULATOR

EMC donated funds to purchase an Industrial Biodynamics Slip Simulator™ for the Iowa-Illinois Safety Council. The Slip Simulator creates slippery and hazardous conditions for users to attempt to navigate while strapped into an overhead safety harness. Participants can learn from mistakes, gain proficiency and decrease their risk of slip, trip and fall injuries with improved stability and balance, all in the safety of a controlled environment.

SENSORS FOR REAL-TIME MONITORING IN SCHOOLS

EMC started a pilot program in late 2016 that uses a monitoring system to help schools manage risks using real-time data. The system features remote-operated sensors that monitor doors, temperature, humidity, vibration and water. These sensors are strategically placed in vulnerable areas within a school building and, if triggered, will send alerts. Based on information from these sensors, policyholders can proactively find solutions to improve their environment and safety.

Approximately 25,000 slip and fall accidents happen every day in the workplace, according to the National Safety Council.

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EMC ONCALL NURSE

This 24-hour work injury nurse hotline service is proven to improve health outcomes for injured employees while reducing workers’ compensation claims and costs. The injured employee calls and speaks directly to a specially trained nurse who immediately assesses the injury and recommends the best course of action. Many cases can be resolved with simple first aid, avoiding unnecessary emergency room visits. The EMC OnCall Nurse program is being piloted by policyholders in select branch office territories and will be expanded to larger commercial policyholders countrywide in 2017.

TAKING TO THE SKIES WITH DRONES

Drones are being used within the insurance industry, and EMC is right in the midst of the action in a unique way. Like many insurance companies, EMC will use drones to document and assess property claims, such as after a major storm. But we are also developing a program to spot problems before they turn into claims. Now we’re using drones for building measurements and roof inspections.

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TEAM MEMBERS TAKE ACTION

As we said before, it takes teamwork. And at EMC, it's our underwriters, marketing representatives, claims and loss control professionals who are working together—at the forefront of delivering the best in customer service to our agents and policyholders. Those in the branch offices are backed up by team members in the Corporate Office, all working to provide the positive experiences our customers deserve.

HIGH-SCORING CLAIMS SERVICE

We rely on our team members, and they deliver. The proof is our outstanding customer service score for our claims service: 4.6 for 2016, on a five-point scale, which is a 92 percent satisfaction rate. The survey is conducted by an independent firm and asks questions about professionalism, courtesy, timeliness and whether or not the claims process was thoroughly explained. Our team members consistently give great claims service, and for five years our score has been 4.6 or above.

NEW TECHNOLOGY AND INNOVATIONS

We’re here to help our team members through technology and innovative ideas. From our customized proprietary dashboard that gives our underwriters quick and easy access to the information they need—to experiential joint training and education sessions for underwriting, claims, marketing and loss control professionals—all are aimed at delivering the best possible service to our customers.

EDUCATION AND TRAINING

We believe in our team members and encourage their development through education and training programs. Our investment in professional development enables us to fill a majority of open management positions with internal candidates, and our knowledgeable team members help give EMC a competitive advantage over other companies.

VISION FOR A BETTER FUTURE

We encourage all EMC team members to take action and do something to improve the lives of other people. In 2016, our team members across the country took volunteer time off to support both local and global causes. Learn more about what they did to better their communities and the world on the following pages.

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It takes vision.

We believe in the value of our communities and are committed to supporting and improving them. We put this belief into action by giving our team members the opportunity to make a positive difference through volunteering, and they take it!

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— Denver Branch Walks for Kid’s Cure for Cancer The Denver Branch helped sponsor the 28th annual Kid’s Cure for Cancer walk/run event in July, raising money for Brent’s Place, a children’s hospital that provides housing for immune-compromised patients and their families while patients receive ongoing treatment.

— Bismarck Branch Cares for the Dakota ZooBismarck Branch team members helped out at the Dakota Zoo in August, completing more than 100 projects during the annual Day of Caring, hosted by the Missouri Slope Areawide United Way in North Dakota.

— Des Moines Team Members Volunteer at December MarketTeam members volunteered at Iowa’s premiere German-inspired Christkindlmarket, sponsored by the Des Moines European Heritage Association, a nonprofit group dedicated to giving Iowans experiences with European traditions, language, education and culture.

— Corporate Office Claims Builds a Butterfly GardenCorporate Office Claims team members built a butterfly garden at the On With Life campus in Ankeny, Iowa. On With Life is a brain injury rehabilitation center that provides services for people who have sustained a traumatic brain injury. The butterfly garden is part of a sensory garden that will help clients during the rehabilitation process.

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— Providence Branch Joins Flames of Hope: A Celebration of LifeProvidence Branch team members volunteered to help prepare for the “Flames of Hope: A Celebration of Life” event. The fundraising event includes educational and awareness activities for cancer survivors and their families.

— Lansing Constructs a Dream Depot 2.0Lansing Branch team members participated in a Capital Area United Way event called Dream Depot 2.0 in September. They helped construct a new playground for a local elementary school after the original playground had to be torn down.

— Volunteer Committee Sews Little Dresses for AfricaDes Moines-based team members created and donated almost 50 hand-sewn dresses to Little Dresses for Africa, a nonprofit organization that provides clothing to African children in need.

— Information Technology Department Builds for Habitat for HumanityThe Corporate Office IT Database Administration team helped install outside foam, house wrap and siding on a new Habitat for Humanity house in Des Moines in November.

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— Jackson Branch Supports the Gateway Rescue MissionThe Jackson Branch collected canned food items to donate to Gateway Rescue Mission, a nonprofit organization that provides food, shelter and counseling for homeless individuals in the Jackson area.

— Cincinnati Branch Packs Snacks for Kids The Cincinnati Branch assembled and donated snack packs for the Boys and Girls Clubs of Greater Cincinnati and Clermont County, and the Freestore Foodbank. The activity was part of the branch office’s United Way week.

— Des Moines Team Members Package Meals from the HeartlandEMC team members from Corporate Office Claims, the Des Moines Branch and a West Des Moines insurance agency joined together to package meals for Meals from the Heartland, a nonprofit organization that delivers packaged meals to hungry people around the world.

— Team Members Go Green at Easter Lake ParkA group of EMC team members volunteered for a Green Iowa AmeriCorps and Polk County Conservation Department project at Easter Lake Park in Des Moines to clear invasive plants that can damage native ecosystems.

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Because we rely on our team members to provide exceptional service, we provide them with a robust, comprehensive total rewards package—one that recognizes their need for financial security, well-being, education, recognition and contribution.

We want to foster a culture of engaged, healthy, productive team members, and we have several unique programs to do just that:

THRIVE This EMC program is dedicated to the overall health and well-being of team members year-round, providing fitness programs, health screenings and educational sessions.

LEARNINGCENTRAL Our training and education system is used by team members to complete online courses, watch instructional videos, register for classes and track their learning history.

SPOTLIGHT Our new companywide team member recognition and award program was introduced in 2016. It’s all about shining the spotlight on EMC team members who stand up and stand out by going above and beyond.

VOLUNTEER TIME OFF EMC team members are encouraged to donate their time and talent to charitable organizations because we believe in supporting and improving the communities in which our team members live and work.

— American Heart Association's Fit-Friendly WorksitesEMC was recognized by the American Heart Association’s Fit-Friendly Worksites program as a 2016 Platinum-Level recipient for the second consecutive year. Only employers that offer a comprehensive wellness program and demonstrate measurable improvements in health outcomes qualify.

BENEFITS AND REWARDS

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Taking action leads to results that get noticed, both locally and nationally. In 2016, EMC was once again recognized for its accomplishments by community and industry organizations, and by national publications.

BIG “I” BEST PRACTICES AWARD OF EXCELLENCE

EMC Insurance Companies was presented with the Best Practices Award of Excellence by the Independent Insurance Agents & Brokers of America in 2016. EMC is one of only six companies in the nation to receive this award, which recognizes imaginative, outstanding and unique contributions in advocating Best Practices philosophies that enhance the independent agency system.

50 MOST TRUSTWORTHY FINANCIAL COMPANIES LIST BY FORBES

For the third consecutive year, EMC Insurance Group Inc. (EMCI) was listed on the 50 Most Trustworthy Financial Companies 2016 list, announced by Forbes. In 2013, EMCI was listed on the Forbes 100 Most Trustworthy Companies list.1

NO. 2 ON 40 BEST PUBLIC COMPANIES FOR LEADERS LIST

For the fourth consecutive year, EMC was listed as one of the 40 best public companies for leaders in the January/February 2016 issue of Chief Executive magazine. EMC ranked 2nd in 2016, moving up from 4th in 2015.2

— Des Moines TriathlonFor the second consecutive year, EMC sponsored the finish line for the Des Moines Triathlon in September. Participants swam, biked and ran through downtown and finished at the Iowa State Capitol.

2016 COMPANY RECOGNITION

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1 In 2014, MSCI ESG Research began compiling the 50 Most Trustworthy Financial Companies list separately from the Forbes 100 Most Trustworthy Companies list. To create the list, MSCI ESG Research reviewed nearly 700 publicly-traded North American financial companies with market caps of $250 million or greater for the year ending December 2015. For more information, go to http://www.forbes.com/sites/kathryndill/2016/08/02/americas-50-most-trustworthy-financial-companies-3/#5687140d567a.

2 The annual ranking is based on a survey of organizations worldwide conducted by Chief Executive in cooperation with GrowthPlay. For more information on the 40 Best Companies for Leaders, go to http://chiefexecutive.net/2016-best-companies-for-leaders.

ECONOMIC IMPACT AWARD FROM GREATER DES MOINES PARTNERSHIP

EMC Insurance Companies was honored with the Economic Impact Award from the Greater Des Moines Partnership and the Des Moines Business Record in late 2016. The Economic Impact Award recognizes EMC for having a significant impact on the local Iowa economy through job creation, capital investment and facility expansion. Facility expansion has been a focal point at EMC as construction on a new four-story office building located at 219 Eighth Street is nearing completion. (See architect's rendering above.)

IOWA HISTORY 101 TRAVELING EXHIBIT

EMC is the presenting sponsor of a new RV exhibit that will travel to all 99 counties in Iowa over the next three years in collaboration with the State Historical Society of Iowa. Iowa History 101, a multimedia and artifact-based traveling exhibit, will include narration by Mike Wolfe, creator and star of the hit TV show “American Pickers,” and a display of key Iowa artifacts.

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2016 FINANCIALS

EMC had another successful year in 2016, with a 97.9 percent combined ratio and record premium and surplus levels. Despite the softening insurance market, we achieved rate increases on many accounts and finished the year with the overall rate level up 0.4 percent over the previous year. We believe our solid book of business, adequate rate levels, strong balance sheet and advanced analytics position us for continued profitability.

COMBINED RATIOEMC’s consolidated combined ratio for the 2016 calendar year was 97.9, down from 98.1 last year and exceeding our corporate objective. Catastrophe and storm losses contributed 9.2 points to the combined ratio in 2016, below the 10.2 point average for the previous 10 years.

PREMIUM GROWTHConsolidated net written premiums grew to a record $1.708 billion, an increase of $61.9 million, or 3.8 percent, compared to 2015. Branch office operations saw an increase in renewal premiums driven by strong renewal retention, slight rate level increases and increased exposures on existing accounts. For all lines combined, new business premiums and policy counts were up from last year. Renewal retention based on in-force policy count remained strong at 87.0 percent for commercial lines and 84.6 percent for personal lines. Rate changes implemented during 2016 increased rate levels by roughly

0.4 percent for the seven major lines of business. Included in the consolidated net written premium figures is an increase of $6.5 million (5.2 percent) for EMC Reinsurance Company to $131 million.

RESERVESEMC strives to be conservative in reserving practices and consistently carries reserves at or above the actuarial central estimate. The Claims Department also promotes a consistent approach to case reserving, establishing adequate case reserves in a timely fashion and reassessing file adequacy as soon as salient information is available.

INVESTMENTS2016 was a productive year for the investment portfolio with net investment income of $99 million and net realized gains of $24.1 million.  

OPERATING RESULTSEMC saw an overall gain from operations income. Net income increased $11.3 million, from $110.9 to $122.2 million.

FINANCIAL STRENGTH RATING EMC Insurance Companies is a financially strong insurance company that has been in business for 106 years. In June 2016, A.M. Best reaffirmed the financial strength rating of A (Excellent) and the issuer credit ratings of “a” of EMC Insurance Companies (this includes Employers Mutual Casualty Company and its six property/casualty subsidiaries). For the latest rating, access www.ambest.com.

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*Net of capital gains tax

FINANCIAL STATEMENT

Underwriting Operations 2016 2015 2014 2013 2012

Net Written Premiums $ 1,707,990,395 $1,646,080,754 $1,570,453,116 $1,487,116,330 $1,350,369,364

Net Earned Premiums $ 1,687,204,644 1,620,443,074 1,532,160,812 1,439,632,801 1,299,090,409

Losses Incurred $ 951,285,042 865,949,565 897,668,287 788,010,351 701,826,183

Ratio To Earned Premiums 56.4% 53.4 58.6 54.7 54.0

Loss Adjustment Expenses $ 150,064,546 195,130,914 181,631,441 164,839,384 161,939,780

Ratio To Earned Premiums 8.9% 12.0 11.9 11.5 12.5

Other Underwriting Expenses $ 524,355,997 507,013,335 465,216,227 475,130,418 434,055,178

Ratio To Written Premiums 30.7% 30.8 29.6 31.9 32.1

Net Underwriting Gain (Loss) $ 61,499,059 52,349,260 (12,355,143) 11,652,648 1,269,267

Policyholder Dividends $ 31,512,691 30,453,940 26,140,179 28,092,548 25,455,430

Ratio To Earned Premiums 1.9% 1.9 1.7 2.0 2.0

Combined Loss & Expense Ratio 97.9% 98.1 101.8 100.1 100.6

Net Investment Gains 2016 2015 2014 2013 2012

Net Investment Income Earned $ 98,953,027 102,201,576 109,816,471 92,683,582 101,653,249

Net Realized Capital Gains* $ 24,105,581 13,769,419 18,719,329 31,969,177 9,400,853

Financial Results 2016 2015 2014 2013 2012

Net Income (Loss) $ 122,189,458 110,858,203 84,770,528 96,856,940 74,761,832

Net Admitted Assets $ 4,392,197,854 4,173,650,357 3,964,334,525 3,675,045,883 3,368,795,790

Liabilities $ 2,758,931,663 2,668,411,209 2,540,682,207 2,365,917,971 2,251,863,175

Surplus $ 1,633,266,191 1,505,239,148 1,423,652,318 1,309,127,912 1,116,932,615

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BRANCH OFFICES

Branch Office Branch Manager Year Opened Territory Employees Agencies

Represented2016 Commercial Lines Premium*

Birmingham Paulette J. Johnson 1982Alabama, Florida, Georgia, Tennessee

52 144 $ 68,228,888

Bismarck Marilyn R. Ternes

1957 (Dakota Fire)

1973 (EMC Branch)

Idaho, Montana, North Dakota, Oregon, Washington

68 108 $ 61,487,188

Charlotte Lonnie D. Schwab

1975 (Charlotte)

1946 (Valley Forge)

Delaware, Maryland, New Jersey, North Carolina, Pennsylvania, South Carolina, Virginia, Washington, D.C.

120 138 $ 145,110,745

Chicago Gary A. Kohnke 1937 Illinois 51 131 $ 53,319,694

Cincinnati Philip A. Goedde

1858 (Hamilton

Mutual)1997

(EMC Branch)

Indiana, Kentucky, Ohio 68 124 $ 80,426,424

Denver Dennis J. Prindiville 1981 Colorado, Utah, Wyoming 52 95 $ 56,120,725

Des Moines John T. Schumacher 1911 Iowa 148 275 $ 197,820,530

Jackson W. Coleman Cummins 1966 Louisiana, Mississippi 39 65 $ 62,651,243

Kansas City Benjamin K. DeHart 1962Arkansas, Missouri, Kansas (NE)

63 87 $ 63,495,653

Lansing Gary E. Pingel 1940 Michigan 65 90 $ 79,091,246

Milwaukee Philip R. Lucca 1956 Wisconsin 76 56 $ 88,422,509

Minneapolis Jerry K. Harlow 1942 Minnesota 44 97 $ 69,137,591

Omaha Jay Sillau 1939 Nebraska, South Dakota 74 147 $ 106,284,786

Phoenix Douglas P. Lincoln 1958Arizona, California, Nevada, New Mexico

78 125 $ 63,771,517

Providence William G. Arnold

1863 (Union Mutual)

1968 (EMC Branch)

Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont

50 81 $ 54,059,959

Wichita Michael L. Akin 1934 Kansas, Oklahoma, Texas 162 227 $ 217,816,219

*As of 2016, personal lines net written premium is being calculated separately (see next page). Only commercial lines net written premium is shown on this chart.

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BUSINESS UNITS

Operation Management Territory Business

Personal Lines Operations Tanya Wentzel

Alabama, Arizona, Arkansas, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, New Hampshire, North Dakota, Ohio, Oklahoma, South Dakota, Tennessee, Wisconsin, Wyoming

Personal lines underwriting, claims and marketing

$131,045,485 direct written premium

EMC Bond Department Jim Clough

Alabama, Arizona, Arkansas, Colorado, Connecticut, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Wisconsin, Wyoming

Primarily contract surety bond business

$32.3 million direct written premium (6.7% increase)

3.4% loss ratio

EMC Risk Services, LLC Barb Sullivan All states

Multiline, third-party administrator offering claims administration, costs management and loss control services

EMC Reinsurance Company (EMC Re)

Vicki Freese88% domestic U.S. business

12% international

Reinsurance business through intermediaries

92.4 trade ratio

$131 million written premium (5.2% increase)

EMC Underwriters, LLC

Marcy Boggs All states

Excess and surplus lines company offering specialty coverages on a direct basis, such as for fairs, festivals, firework displays, and ambulance malpractice, along with property and casualty coverages as well as using available alternative market approaches

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LEADERSHIP

President, Chief Executive Officer and Treasurer

Bruce G. Kelley, J.D., CPCU, CLU

Executive Vice Presidents Executive Vice President and Chief Operating Officer

Kevin J. Hovick, CPCU

Executive Vice President for Corporate Development

Mick A. Lovell, CPCU

Executive Vice President for Finance and Analytics

Scott R. Jean, FCAS, MAAA

Senior Vice Presidents Ian C. Asplund, M.S., FCAS, MAAA, CERA

Jason R. Bogart, CPCU, ARM

Rodney D. Hanson, CPCU

Robert L. Link, CAM, CM, Corporate Secretary

Elizabeth A. Nigut, J.D.

Ronald A. Paine, CPA, CIA

Larry W. Phillips, CPCU

Mark E. Reese, CPA, Chief Financial Officer

Lisa A. Simonetta, J.D.

Regional Vice PresidentDennis J. Prindiville, CPCU, AU

Resident Vice PresidentsMichael L. Akin, CPCU

William G. Arnold, M.B.A., CPCU, ARM, AIS

W. Coleman Cummins, CPCU, AIM, AU

Benjamin K. DeHart, CPCU, ARM, ARe

Philip A. Goedde, CPCU, CIC

Jerry K. Harlow, CPCU, AU

Paulette J. Johnson, CPCU, AU, AIS

Gary A. Kohnke, CPCU

Douglas P. Lincoln, CPCU, CLU, AU, ChFC

Philip R. Lucca, CPCU

Gary E. Pingel, CPCU, AU

John T. Schumacher, CPCU

Lonnie D. Schwab, CPCU, AU

Jay Sillau, CPCU

Marilyn R. Ternes, CPCU, AU

Vice Presidents Dan D. Aksamit, CPCU, ARe, ARM

Melissa J. Appenzeller, FCAS, MAAA, Chief Actuary

Harold K. Capps Jr., RPA

Alison M. Cate, CPCU, ARM

James D. Clough, ARe

Robert A. Coon, M.B.A.

Daniel C. Crew, CPCU, CIC, CRM

Kenneth J. Fitzgerald, CPCU, PMP

Bradley J. Fredericks, M.B.A., FLMI, Chief Investment Officer

Vicki L. Freese, CPCU, ARe

Rob J. Friedman, CPCU, CIC, ARe

Lisa L. Hamilton, M.S., M.A., ABC

Larry G. Hamling, CPCU, CPA

Julie A. Larson, CPCU, AIM, API

Michael D. Morris, AIC, AIS, CIC, AIM

Kelvin B. Sederburg, ACAS, MAAA, Appointed Actuary

P. Bryon Snethen, CPCU, ARM, CSP, AU

Todd A. Strother, J.D., General Counsel

Kyle L. Warden

Matt G. Wentzel, CPCU, AIM

Tanya R. Wentzel, M.P.A., CPCU, CIC, AU

Assistant Vice PresidentsKarey S. Anderson, CFA

Monte W. Ball, CSP

Angela M. Baughman

Michael R. Boggs, CPCU

Douglas L. Brinkman, CPCU, CSP

Gerrad T. Clausen, CPCU

Kenneth D. Cumpston Jr., CPCU, AFSB, ARe

Tamara L. Evans, CPCU, SCLA-Gold, AIM, AIC, ACS

Michael R. Freel, FIDM

Benjamin P. Herman, CPA, AFSB

Ronald D. Herman, M.S., CPA

Dawn D. Johnson

Teresa L. Miller, CCP

James M. Moore, CPCU, AIM

Gerri S. Ohde, CPCU, ARM, AIS

Sean A. Pelletier, J.D.

Carla A. Prather, Controller

Carol A. Ratekin, CPCU, FMLI

Brent L. Rickabaugh, CPCU, AU

Ross A. Sales, M.B.A.

Jason T. Sash, FCAS, MAAA

Robert G. Seiler, CEBS

Lucreia M. Smith, M.B.A., API

Barbara A. Sullivan, CPCU, AIC

Stephen P. Tetzloff, CPCU, AAI

Meg M. Weist, J.D.

Ron E. Zoss

Assistant SecretariesDuane R. Adamson

Steven J. Albaugh, APA

Lisa A. Arechavaleta, J.D., CCEP

Lynette S. Bent, CTP, FLMI

Marcel D. Boggs

Christine M. Brandenburg, CPCU, AIC, AIM, ARe, AIT, SCLA-Gold

Chad D. Buresh, CLA

Kent A. Candee, CPCU, CIH, ARM, API

Jason A. Clark, FCAS, MAAA

Rick A. Conoan

Sydney A. Conrad, J.D., M.B.A.

Tammi M. Dickey, AINS

Brian C. Fuller, AIC

Brian L. Hendrickson, CPCU, ARM

Tara L. Inghram, CPCU, ARe, AU, AIM, AIAF

Scott D. Jaspers, CPCU, AIT, ACS

Jill M. Joss, CPCU, CIDM, AIC, API

Erik J. Keninger, CPCU, API, AU, AIM

John R. Kurtz

Traci A. Larsen, CRM

Lori A. Lenz, CPA

Jerry D. Loghry, M.S., CSP, CPP, ARM

Brady J. Mallon

Pat A. Martin, M.B.A., CPCU, PMP, AIT

Kent L. McCampbell, CPCU, ARe

Daniel J. McCleary, CPCU

Thomas C. McEntee

Doug W. Nuehring, CPCU, ARe, AIAF

John S. Osier, M.B.A., CPCU, CFA

Dawn M. Rizzi

Jeffrey L. Roe

Laurie A. Salz, FCLS

Karen J. Stille

Joni R. Summitt, CPCU, AIM, API

Cheri K. Trites, J.D.

Douglas S. Van Zanten, J.D., CPCU

Chad B. Veach, CPCU, CSP, ARM

Steven T. Walsh, CPA

Todd D. Witke, J.D.

Assistant ControllersLaura L. Ladd, CPA

Jeffrey B. Monson, CPA, CPCU, AIAF, ARe

As of January 2017.

EMC Insurance Companies (EMC) is the trade name used by Employers Mutual Casualty Company (EMCC), several subsidiaries and affiliated insurance companies, and EMC Insurance Group Inc. See the back page for a list of all EMC companies.

Taking Action 23

BOARD OF DIRECTORS

RETIREMENTS

Chairman of the BoardDavid J. W. Proctor, J.D. Practicing Attorney and Shareholder Bradshaw, Fowler, Proctor & Fairgrave, P.C. Des Moines, Iowa

Board MembersThomas W. Booth Retired Open Innovation Leader Lennox International, Inc. Lafayette, Colorado

John C. Burgeson Owner, Chairman and CEO Iowa State Bank Des Moines, Iowa

Matthew D. Griffin, J.D. Attorney Kaplan, Inc. Brooklyn, New York

Steven G. Jacobs Cofounder, Principal and President BCC Advisers West Des Moines, Iowa

Ronald W. Jean, FCAS, MAAA Retired Executive Vice President for Corporate Development EMC Insurance Companies Altoona, Iowa

Bruce G. Kelley, J.D., CPCU, CLU President, CEO and Treasurer EMC Insurance Companies Des Moines, Iowa

Richard Koch Jr. President and Owner Koch Brothers Des Moines, Iowa

J. Thomas Lockhart, M.B.A. Financial and Accounting Consultant Golden Valley, Minnesota

William A. Murray, CIC, AU Retired Executive Vice President and COO EMC Insurance Companies Concord, North Carolina

Mary O’Gorman Murray, CPCU Retired Chief Administrative Officer Towers Perrin Reinsurance Media, Pennsylvania

Frankie BoxCPCU, CLU, ChFC, AIM, Resident Vice President and Jackson Branch Manager, retired in December 2016. Box began his career with EMC in August 1975 at the Jackson Branch. Coleman Cummins took over his position.

Carl DootCPCU, CLU, AU, Resident Vice President and Phoenix Branch Manager, retired in March 2016. Doot was with EMC for over 42 years and served as branch manager since 1982. Doug Lincoln took over his position.

Ron HallenbeckCPCU, ARe, ARP, AIAF, President of EMC Reinsurance for nearly 22 years, retired in August 2016. Hallenbeck worked for EMC for over 42 years. Vicki Freese took over as the head of EMC Reinsurance.

Kent KochheiserCPCU, Resident Vice President and Cincinnati Branch Manager, retired in March 2016 after over 37 years with EMC. Phil Goedde took over his position.

Jay OsterCPCU, ARe, ARM, AU, Vice President-Corporate Risk Manager, retired in January 2017. Oster began his EMC career at the Bismarck Branch in 1984 and moved to the Corporate Office in 1990. Dan Aksamit took over as the head of the Corporate Risk Management Department.

Employers Mutual Casualty CompanyEMC Insurance Group Inc.

Dakota Fire Insurance CompanyEMC Reinsurance CompanyEMCASCO Insurance Company

EMC Underwriters, LLCIllinois EMCASCO Insurance Company

EMC Property & Casualty CompanyEMC Risk Services, LLCHamilton Mutual Insurance CompanyUnion Insurance Company of ProvidenceEMC National Life Company (Affiliate)

717 Mulberry Street, Des Moines, IA 50309 515-280-2511 | 800-447-2295 | www.emcins.com

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people and businesses we mutually serve.