First Chicago Insurance Company Revenue and Competitors

Claim your profile

Bedford Park, IL USA

Location

N/A

Total Funding

Insurance

Industry

Estimated Revenue & Valuation

  • First Chicago Insurance Company's estimated annual revenue is currently $21.6M per year.(i)
  • First Chicago Insurance Company's estimated revenue per employee is $220,000

Employee Data

  • First Chicago Insurance Company has 98 Employees.(i)
  • First Chicago Insurance Company grew their employee count by 15% last year.
Competitor NameRevenueNumber of EmployeesEmployee GrowthTotal FundingValuation
#1
$3009.5M97714%N/AN/A
#2
$1060M284836%$75.4MN/A
#3
$252.3M819N/AN/AN/A
#4
$38M157-2%N/AN/A
#5
$29.5M134-4%N/AN/A
#6
$24.6M112-1%N/AN/A
#7
$43.3M179-3%N/AN/A
#8
$2402.7M78010%N/AN/A
#9
$1160M12826%N/AN/A
#10
$129.3M470-1%N/AN/A

The company was founded on December 14, 1920 as the Chicago Ice Producers Mutual Liability Company. Originally organized as a mutual insurance company, its initial purpose was to insure the members of the Chicago District Ice Association for general liability, Workers Compensation, public liability for horses and wagons, and commercial vehicle insurance. Association members donated the $26,225 that was needed at that time to start insurance operations. The company was granted licenses to operate in the States of Illinois, Indiana and Wisconsin, which continue to be held today. In the 1930s, the company expanded into insuring the private passenger vehicles of the owners and employees of the ice companies. This business was later enlarged to include individuals referred by policyholders of the company. The company's name was changed to Chicago Mutual Liability Company in 1961. During the 1970's and 1980s, the company evolved from its original focus as a commercial lines insurer to become an automobile insurer. At the end of 1994, the Board of Directors decided to exit the Workers Compensation and general liability lines and concentrate on the personal and commercial auto lines of business. In 1991 the Board of Directors decided to change the company's distribution system from direct writing to partnering with independent producers. The company had maximized its growth as a direct writer and needed to adopt a different strategy. The company's name was changed again in 1996 to Chicago Mutual Insurance Company. In 2006, the company was converted from a mutual form of governance to a stock company. It was renamed First Chicago Insurance Company, and became a subsidiary of J & P Holdings, Inc. Innovation is the company's focus as the 100th anniversary of its founding approaches. Management continues to search for opportunities that will serve our current policyholders and contribute to the company's growth and profitability.

keywords:N/A

N/A

Total Funding

98

Number of Employees

$21.6M

Revenue (est)

15%

Employee Growth %

N/A

Valuation

N/A

Accelerator

First Chicago Insurance Company News

2022-04-17 - Insurance company downsizes Chicago offices by 106K sf with move

Insurance company downsizes Chicago offices by 106K sf with move ... net cash flow during the first nine months of 2021 with debt service of...

2022-04-17 - Employer buys robotic feeder for suburban man amid insurance fight

PALATINE, Ill. — Amid a battle with his insurance company, a suburban man's employer has purchased the robotic arm that helps feed him...

2022-03-22 - First Chicago Launches Commercial Auto Insurance Program in Illinois And Indiana

First Chicago Insurance Company announced it recently launched its augmented commercial auto insurance program in Illinois and Indiana.

2021-05-05 - First Chicago Insurance Company Expands Its Commercial Public Transportation Specialty Program to Include the State of Ohio

First Chicago offers customized commercial auto packages for a variety of classes in the public transportation segment, from large fleet operations to individual owner operators BEDFORD PARK, Ill. (PRWEB) May 05, 2021 Marketed by Warrior Insurance Network (WIN) and issued by First Chicago Insu ...

Company NameRevenueNumber of EmployeesEmployee GrowthTotal Funding
#1
$38M11513%N/A
#2
$45M1416%N/A