![]() ![]() In addition to its own offices, EMC has been a prominent downtown landlord. But after many employees began working from home during the COVID-19 pandemic, executives announced that, in an agreement with the city of Des Moines, they would put that plan on hold and turn the space at least temporarily into a new public park. The company opened a $40 million office at Eighth and Walnut Streets in 2017.ĮMC had further downtown expansion aspirations, announcing plans to build offices on the former site of the Younkers department store across Walnut Street from its headquarters. The company operates three local offices, including the 20-story "Vodka" building, nicknamed for its likeness to a bottle of Absolut. Reinsurance is a hedging technique in which one company sells a bundle of policies to another company, spreading the risk from potentially expensive customers. The buyer, meanwhile, receives the business at a discount, betting that those customers aren't as risky as the seller believes and that that the customers' premiums will outweigh any eventual costs.Īs for what EMC will do with its reinsurance business, Jean said in his statement, "Options for the management and/or runoff of existing reinsurance business are currently being explored."įounded in Des Moines 110 years ago, EMC has long maintained a prominent presence downtown. The company also offers commercial property, casualty and life insurance. More: See inside new downtown Des Moines federal courthouse, expected to open next summerĪccording to its news release, EMC received about $180 million in annual premiums from reinsurance, representing about 10% of the company's total business. ![]() "While an extremely difficult position, EMC felt this move was necessary to position the company for the future and the achievement of its strategic plans and goals," CEO Scott Jean said in a statement. The company said the affected employees will lose their jobs in waves next year, starting Jan. The company declined to say how many of those positions are in central Iowa, where half of EMC's 2,200 U.S. The Des Moines-based insurer announced in a news release Tuesday that executives have decided to exit the reinsurance segment, costing 65 workers their jobs. will cut some jobs next year as it ends a line of business. EMC Insurance Companies cites these partnerships as the reason it is able to deliver "a superior level of personalized service to the insurance process," and the company was distinguished as a five-star insurance carrier by Insurance Business America magazine in 2018.EMC Insurance Cos. The company insists that its century-long legacy is built on a foundation of stability, strength, and success, and its products are sold exclusively through independent insurance agencies spanning 40+ states. In addition to providing auto, business, home, and life insurance products, EMC Insurance Group is comprised of affiliated companies that include EMC National Life Company, EMC Reinsurance, EMC Risk Services, and EMC Underwriters. As an employer, EMC Insurance describes its culture as community-focused, driven, energetic, knowledgeable, responsive, and team-oriented, and it looks for professionals who will thrive in this atmosphere and share the values that define "the essence of identity." These values include collaboration, customer focus, honesty, integrity, innovation, and driving results. In the past, these remote jobs have been posted in legal, operations, insurance, and related fields, and select roles have entailed occasional travel requirements. Founded in 1911, EMC Insurance Companies is headquartered in Des Moines, Iowa, and employs over 2,400 people across the country who serve the needs of insurance policyholders and independent insurance agents.ĭistinguished multiple times as a Top Workplace in Iowa by The Des Moines Register, EMC Insurance Companies has previously offered full-time, partially remote jobs to U.S. Researched & Written by Megan Dawkins on the FlexJobs TeamĮMC Insurance Companies, also known as Employers Mutual Casualty Company and EMC Insurance Group, is one of the United States' top 60 property/casualty insurance organizations based net written premium, as well as the largest in the state of Iowa.
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