FMG

Headquarters address: Level 1, PwC Centre, 10 Waterloo Quay, Wellington 6011, New Zealand
Year established: 1905
Size (employees): 900+
Locations: 30+ regional locations in New Zealand
Underwriting expertise: Farm (buildings, contents, vehicles, irrigators, livestock, farm dogs); arable & horticulture (orchard fruit and arable crop); commercial (material damage, business interruption, liability); domestic (home, contents, private vehicles, boat); specialty liability (management, professional, association); and life & health (through FMG advisers; plans underwritten/administered by Fidelity Life, AIA, Resolution Life and/or Southern Cross)
Key people: Adam Heath (chief executive officer); Dave Kibblewhite (chief finance & investment officer); Glenn Croasdale (chief client officer); Pete Frizzell (chief marketing officer); Kim Grooby (chief claims officer); Alex Johnston (chief insurance officer); Darrin Bull (chief strategy & enablement officer); Nicki Mackay (chief people officer); Antonio Ybarra (chief risk officer); Paul Jepson (chief information officer)

FMG is a 100% New Zealand‑owned mutual insurer with roots in farmer‑led mutual associations. It provides tailored insurance and risk advice to rural, lifestyle, and business clients across Aotearoa New Zealand, serving more than 120,000 clients nationwide.

As a mutual, FMG aims to be profit‑making rather than profit‑maximising, with all profits staying in Aotearoa New Zealand and being reinvested into the business to operate FMG, prepare for future events, and support the communities it serves.

Brief history of FMG

In 1905, a group of farmers dissatisfied with the limited offerings from proprietary insurers established the Farmers Union Mutual Fire Insurance Associations, which formed the foundation of what would become FMG. Similar mutual associations were later established in other parts of the country as the mutual model gained favour.

During the 1970s, several mutuals amalgamated, forming Farmers’ Mutual Group in 1978 as a national rural insurer.

In 2025, FMG celebrated 120 years of supporting rural communities in Aotearoa New Zealand.

FMG products offerings

FMG offers insurance products including home, contents, vehicles, lifestyle blocks, horticulture, and farming. The company also provides access to specialised products through co‑insurance partnerships. FMG primarily distributes its products directly to clients rather than through intermediaries or brokers.

Leadership at FMG

Adam Heath - Chief Executive

Heath joined FMG as chief executive in December 2021. He has more than 30 years’ financial services experience across general insurance, life insurance, banking, academia, and telecommunications. He holds a Master of Commerce from the University of Auckland.

Below are the other members of the leadership team who help Heath guide FMG:

Dave Kibblewhite – Chief Finance and Investment Officer: leads FMG’s finance and investment functions, drawing on experience in insurance and regulation in New Zealand and overseas
Glenn Croasdale – Chief Client Officer: oversees FMG’s sales and service performance for general and life & health insurance, and leads client facing functions across the business
Pete Frizzell – Chief Marketing Officer: leads FMG’s marketing and propositions team and has governance responsibility for Farmstrong and sustainability initiatives
Kim Grooby – Chief Claims Officer: leads FMG’s claims function, with senior leadership experience in change management, process development, and insurance technology
Alex Johnston – Chief Insurance Officer: is accountable for FMG’s insurance portfolio, supported by extensive pricing and actuarial experience in New Zealand and UK insurance markets
Darrin Bull – Chief Strategy and Enablement Officer: leads strategy and business enablement, based on a background in product management, business transformation, and strategy consulting
Nicki Mackay – Chief People Officer: oversees FMG’s people function, using operational leadership experience across agribusiness, claims, and large team management
Antonio Ybarra – Chief Risk Officer: is responsible for enterprise risk, with more than 20 years’ experience in general and life & health insurance and prior risk leadership roles
Paul Jepson – Chief Information Officer: leads FMG’s digital and information technology strategy and operations, with three decades of IT and transformation leadership in New Zealand and the UK

Culture at FMG

FMG’s culture is built on its mutual structure and advice‑led model that prioritises client outcomes, rural resilience, and long‑term affordability. FMG employees are based in over 30 offices across the country, with more than 200 mobile staff regularly travelling rural roads each week.

FMG gained B Corp certification in 2023, recognising that it meets independently assessed standards of social and environmental performance, transparency, and accountability.

FMG supports wellbeing across the sector through sponsorships such as Farmstrong and the Melanoma New Zealand Spot Check Roadie. It also invests profits back into services and communities.

In terms of sustainability, FMG reports against four pillars (Economic, Environment, Community, and Culture) and publishes dedicated sustainability reporting alongside its annual reports, focusing on climate resilience, client risk‑reduction advice, and organisational wellbeing and safety.

FMG’s 2025 Gallup Q12 Survey classified 68% of employees as ‘engaged’, compared with a reported global average of 21%. Its Grand Mean score rose to 4.29, placing the organisation in the 65th percentile globally.

Five employee networks (including FMG Pride, Māori Kaimahi, and Neurodiversity) support staff connection and professional development. FMG has received the Gallup Exceptional Workplace Award for three consecutive years.