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2023 Annual Report

Annual Report

FFVA Mutual’s Annual Reports share our financial highlights, results of operations and plans in progress to enhance our operations and customer experiences. In our 2023 Annual Report, our President Alan Hair shares a message with a focus on reasons to choose FFVA Mutual for workers’ comp coverage and the value being a mutual insurance company brings to our agents and policyholders.

Download the 2023 Annual Report See Prior Years

A Message from Our President

As our annual report attests, 2023 was another strong year for FFVA Mutual. The company achieved an underwriting profit for the 11th consecutive year, and policyholder surplus reached an all-time high! However, when placed in their true context, these achievements are more than just numbers. They are evidence of our “living brand” – an incredible story that no one tells better than our Solutionists!


Our living brand comprises the rare and positive culture of our organization. This culture fosters a team approach that allows our Solutionists to work together to effectively solve problems and provide unmatched underwriting, safety, and claims services. Our culture begins with the type of people we hire – those who truly care about others. It takes root in our long-held mission to deliver trusted workers’ compensation solutions and personalized customer experiences to our agency partners, policyholders, and the injured workers to whom we provide medical care and other benefits. It is nourished by our vision to be the workers’ compensation insurance carrier of choice recognized for unparalleled service and financial strength.


To FFVA Mutual, our mission and vision are not just words on paper but a decades-long cultural heritage that informs our every decision and action. The results of our culture are industry leading policy retention ratios and favorable loss and expense ratios compared to peer companies. The attributes of this culture are echoed in the words our agency partners and customers use to describe their experience with us: “knowledgeable,” “highly responsive,” “commitment,” “blown away,” and “the best.”


We have been able to sustain a culture of excellence, innovation, and collaboration by learning to leverage technology and data to improve efficiency, effectiveness, and customer satisfaction. But I believe the core of our success lies in our people and our long-held relationships – we know who we are and the people we serve. We truly care, and that motivates us to welcome feedback and innovative ideas from our Solutionists and other stakeholders. It also inspires us to continually improve.


As we look ahead to 2024, we are confident we have the right strategy, the right team, and the right culture to propel our future growth and success. We will continue to develop our living brand to sustain FFVA Mutual’s excellent level of service and stellar reputation in the marketplace. We are grateful for your trust and support and look forward to serving you in better and more personalized ways in the years to come.




Alan Hair

President & CEO

Previous Years

2022 Annual Report2021 Annual Report2020 Annual Report2019 Annual Report2018 Annual Report