Jump to Content
ABA: The American Bankers Association ABA Logo
Press Release

American Bankers Mutual Insurance, Ltd. Distributes $2.5 Million to ABA Member Banks

$88.8 million has been declared in total distributions since 1991

WASHINGTON —

The American Bankers Association announced today that American Bankers Mutual Insurance, Ltd., the reinsurer for the ABA-endorsed insurance program, declared a $2.5 million distribution to be shared by qualified ABA member banks insured through ABA Insurance Services, a member of Great American Insurance Group.

This is the 30th consecutive year that the industry’s leading professional liability and bond insurance provider has declared distributions to eligible ABA member banks, bringing the total to $88.8 million since the program’s inception. Banks that purchase their directors and officers, bond, cyber and related insurance from this program and are current ABA members are eligible to receive a distribution.

“This program is a fantastic opportunity for banks to maximize the value of their ABA membership,” said Rob Nichols, ABA president and CEO. “Not only does it offer a stable, reliable source of insurance but it provides meaningful distributions year after year.”

“What sets this program apart in the industry is the fact that it is solely focused on the needs of the banking industry, leveraging experienced underwriters with financial industry backgrounds,” said Gary Hemmer, chairman of American Bankers Mutual Insurance Ltd. and president and CEO of First National Bank of Waterloo in Waterloo, Ill. “This 30th consecutive distribution exemplifies the program’s strength and success servicing America’s banks.”

In order to receive a distribution, a bank must be an insured of ABA Insurance Services and a member of ABA at the close of business on Tuesday, January 22, 2020. Distributions will take place in early February.

###

About the American Bankers Association

The American Bankers Association is the voice of the nation’s $18.5 trillion banking industry, which is composed of small, regional and large banks. Together, America’s banks employ more than 2 million men and women, safeguard $14 trillion in deposits and extend more than $10 trillion in loans.

About ABA Insurance Services

ABA Insurance Services serves the banking industry by offering D&O, bond, cyber, P&C and related insurance to financial institutions across the country. Endorsed by the American Bankers Association, this unique insurance program has been a market leader since 1987, and is recognized by insurance and banking professionals as a secure, stable and affordable source of coverage. For more information about ABA Insurance Services, call 800-274-5222 or visit www.abais.com.

About American Bankers Mutual Insurance, Ltd.

American Bankers Mutual Insurance, Ltd. is a bank-owned, mutual insurance company that reinsures policies written for the ABA-endorsed insurance program.

Press Contact

Blair Bernstein

(202) 663-5468

Contact Blair
Useful Links

Resources for the Media