Insurance veteran and financial executive Justin Cowan has been selected as CEO of American Farmers & Ranchers Insurance. The AFR Insurance Board of Directors made the announcement effective Nov. 15, 2016.
It’s an honor and a privilege to lead AFR Insurance into the future, and I am very excited about this great opportunity. I am proud to be a lifelong Oklahoman and a lifelong AFR member. My family has been AFR/OFU members for over 40 years. My goal is to continue to properly manage this great company so that it will be around for another one hundred plus years. I want AFR Insurance to continue on its successful path of growing revenue 5 to 6 percent per year, while increasing surplus at 10 to 12 percent per year, and continuing to be one of the soundest insurance companies in the state.
The new CEO added some of the growth could include serving the needs of rural residences in neighboring states.
Cowan previously served as the Audit Committee Chairman on the AFR executive board. The Locust Grove, Okla., native and his wife, Linda, have owned and operated Cowan Insurance Agency in Locust Grove for 27 years. Cowan received his bachelor’s degree in accounting from Northeastern State University in 1985 and has been a practicing Certified Public Accountant for 29 years. He has served as president of the Mayes County Farmers Union for 16 years and he is a member of the OFU Foundation Board of Directors.