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Press Release

American Bankers Mutual Insurance, Ltd. Distributes $2 Million to ABA Member Banks

$86.3 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 million distribution to be shared by qualified ABA member banks insured through ABA Insurance Services.
 
This is the 29th 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 $86.3 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. 
 
“ABA works tirelessly to provide the greatest possible value for our member banks,” said Rob Nichols, ABA president and CEO. “We are proud that we can continue to offer this stable, reliable and innovative source of insurance to our members that also provides meaningful distributions year after year.”
 
“This is a one-of-a-kind program designed specifically for the unique needs of banks,” said Jeff Plagge, chairman of American Bankers Mutual Insurance Ltd. and president and CEO of Northwest Financial Corp. in Arnolds Park, Iowa. “Nearly three decades of annual distributions speaks to the program’s continued strength and consistency.”
 

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $18 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 nearly $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.

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Blair Bernstein

(202) 663-5468

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