Former MBA exec named chairman of insurance company

Northwestern Financial Review, Sep 1-Sep 14, 2002

Truman Jeffers has been elected chairman of the board of State Fund Mutual Companies. Jeffers is the former executive vice president of the Minnesota Bankers Association. State Fund Mutual Companies is Minnesota's largest workers' compensation insurer, serving some 8,000 small and medium-size companies in the state.

Jeffers has been a member of the company's board of directors since he left the Minnesota Bankers Association in 1995. Jeffers will chair the nine-person board, in addition to chairing its investment committee. The full board meets about a half dozen times per year, and board subcommittees meet more often.

"Truman brings a valuable set of skills to the board," commented Pat Johnson, president. "The chairman is a key leadership position, and I couldn't be more pleased about Truman's service on our board and now as chairman."

State Fund Mutual Companies, started in 1983, is a full-service Bloomington, Minn.-based company with 185 employees. In addition to offering workers compensation insurance, the company administers insurance programs for large companies that self-insure.

Jeffers, a resident of New Brighton, worked at the Minnesota Bankers Association from 1961 to 1995, serving as its executive vice president from 1970 to 1995.