ICMIF member Ayr Farmers Mutual Insurance Company (Canada) has announced that its Board of Directors has approved a CAD 1.53 million refund from premiums, the second largest in the company’s history, benefitting 84% of its policyholders (more than 11,000 families and businesses). This decision comes after another financially strong year and reflects the company’s enduring commitment to its policyholders.

Serving more than 13,000 families and businesses across Southwestern Ontario, Ayr Farmers Mutual operates on a mutual model, where policyholders are not just customers but members of the organisation. When the company performs well, the benefits are shared directly with those who make it successful — its members.

“Approving this refund is a reflection of our mutual values and long-standing commitment to our policyholders,” said Dave Thompson, Board Chair. “Our priority has always been to protect and advocate for policyholders when they face unexpected events, and it’s truly rewarding when we can also share in the company’s success with them.”

With a legacy of financial strength, Ayr Farmers Mutual has offered refunds from premiums in 32 of the past 39 years — a testament to its thoughtful management and commitment to delivering value to members.

“This year’s CAD 1.53 million refund is our second largest ever, and it exemplifies the heart of mutual insurance,” said Jeff Whiting, CEO of Ayr Farmers Mutual. “Our mission goes beyond just being an insurance provider. We are firm advocates for our members, and we are deeply invested in the communities we serve. It’s our way of showing gratitude and reinforcing that success is mutual at Ayr Farmers.”

Eligible policyholders will receive their refund by cheque between late February and early March.