Utilize Rico Filo

THE BEGINNING

Our founders

Two men with a dream ... both worked at the Pennsylvania Indemnity Exchange (PIE) from 1922 to 1924, but were not happy with the pay and conditions. By fall 1924, the wheels were in motion to start their own company. When they resigned from the PIE, the company had to hire six salesmen to replace them!

Jacob Wallenberg (since 2005)
Current assignments
- Chair: Confederation of Swedish Enterprise
- Vice Chair: ABB, Ericsson, FAM, Patricia Industries, Wallenberg Investments
- Director: The Knut and Alice Wallenberg Foundation, Tsinghua School of Economics Advisory board, Steering Committee European Round Table of Industrialists
- Member: IBLAC (Mayor of Shanghai's International Business Leaders Advisory Council), Royal Swedish Academy of Engineering Sciences (IVA)
Work experience
- Chair: SEB
- Vice Chair: Atlas Copco, Investor, SAS, Stora
- Director: Nasdaq, The Coca-Cola Company, Electrolux, Stora, Stockholm School of Economics, Stockholm Chamber of Commerce, WM-data
- President and CEO: SEB
- Executive Vice President and CFO: Investor
Education
- B.Sc. Economics and M.B.A., Wharton School, University of Pennsylvania
- Reserve Officer, Swedish Navy
Independence

Independent of the company and its management
Dependent of the company's major shareholders (Member of Knut and Alice Wallenberg Foundation)

Committee

Chair: Remuneration Committee
Member: Audit and Risk Committee

Shares in Investor
- A shares: 586,676
- B shares: 1,262,288
- Total No.of shares: 1,848,964
- Synthetic shares: 22,853
Marcus Wallenberg (Since 2015)
Current assignments
- Chair: FAM, Patricia Industries, Saab, SEB, IVA (The Royal Swedish Academy of Engineering Sciences), Wallenberg Investments
- Vice Chair: The Knut and Alice Wallenberg Foundation, EQT AB
- Director: AstraZeneca
Work experience
- Chair: Electrolux, International Chamber of Commerce, LKAB
- President and CEO: Investor
- Executive Vice President: Investor
- Director: Stora Enso, and Temasek Holding
Education
- B. Sc of Foreign Service, Georgetown University, Washington D.C. USA
Independence

Independent of the company and its management
Dependent of the company's major shareholders (Member of Knut and Alice Wallenberg Foundation)

Committee

Chair: Remuneration Committee
Member: Audit and Risk Committee

Shares in Investor
- A shares: 2,040,000
- B shares: 59,356
- Total No.of shares: 2,099,356
- Synthetic shares: 0
Gunnar Brock (Since 2009)
Current assignments
- Chair: Neptunia Invest, Stena
- Director: ABB, Patricia Industries
- Member: The Royal Swedish Academy of Engineering Sciences (IVA)
Work experience
- Chair: Mölnlycke, Rolling Optics, Stora Enso
- CEO: Alfa Laval, Atlas Copco, Tetra Pak Group, Thule International
- Director: Lego, SOS Children's Villages Sweden, Total SA, Stockholm School of Economics, Syngenta
Education
- M.Sc. in Economics and Business Administration, Stockholm School of Economics, Sweden
Independence

Independent of the company and its management
Independent of the company's major shareholders

Committee

Member: Audit and Risk Committee

Shares in Investor
- A shares: 0
- B shares: 0
- Total No.of shares: 0
- Synthetic shares: 15,572
Johan Forssell (Since 2015)
Current assignments
- Director: Atlas Copco, Confederation of Swedish Enterprise, Epiroc, EQT AB, Patricia Industries, Stockholm School of Economics, The Royal Swedish Academy of Engineering Sciences (IVA), Wärtsilä
Work experience
- Director: Saab
- Project Director: Aleris
- Head of Core Investments: Investor
- Head of Research: Investor
- Head of Capital Goods and Healthcare sector: Investor
- Head of Capital Goods: Investor
- Analyst, Core Holdings: Investor
Education
- M.Sc. in Economics and Business Administration, Stockholm School of Economics
Independence

Dependent of the company and its management (CEO)
Independent of the company's major shareholders

Shares in Investor
- A shares: 147,020
- B shares: 217,980
- Total No.of shares: 365,000
- Synthetic shares: 0
Magdalena Gerger (Since 2014)
Current assignments
- Chair: Nefab Group, The Royal Swedish Academy of Engineering Sciences (IVA) Business Council, British Swedish Chamber of Commerce.
- Director: Currys plc, Peab
Work experience
- Chair: IQ-initiativet
- Director: Humana, Husqvarna, Ahlsell, IKEA (Ingka Holding), Svenska Spel
- President and Chief Executive Officer: Systembolaget
- Vice President, responsible for Fresh Dairy, Marketing and Innovation: Arla Foods
- Management consultant: Futoria
- Category Director: Nestlé
- Marketing Director: ICI Paints, Procter & Gamble
Education
- M. Econ., and M.B.A., Stockholm School of Economics
- M.B.A. exchange, McGill University, Montreal, Canada
Independence

Independent of the company and its management
Independent of the company’s major shareholders

Committee

Member: Audit and Risk Committee

Shares in Investor
- A shares: 0
- B shares: 17,788
- Total No.of shares: 17,788
- Synthetic shares: 7,790
Tom Johnstone, CBE (Since 2010)
Current assignments
- Chair: Collegial, Combient, Husqvarna, Wärtsilä
- Director: Northvolt, Volvo Cars
- Member: Royal Academy of Engineering Sciences (IVA)
Work experience
- Chair: British Swedish Chamber of Commerce
- Vice Chair: Wärtsilä
- President and CEO: SKF
- Director: Electrolux, SKF, The Association of Swedish Engineering Industries
- Executive Vice President: SKF
- President: Automotive Division, SKF
Education
- M.A., University of Glasgow
- Honorary Doctorate in Business Administration from the University of South Carolina, USA
- Honorary Doctorate in Science from Cranfield University, UK
Independence

Independent in relation to the company and its Management
Independent in relation to the company's major shareholders

Committee

Member: Remuneration committee

Shares in Investor
- A shares: 0
- B shares: 0
- Total No.of shares: 0
- Synthetic shares: 15,572
Isabelle Kocher (Since 2021)
Current assignments
- Chair and CEO: Blunomy
- Member of the Board of the non for profit organizations Le Cercle des Économistes, RAISE and The B Team
Work experience
- CEO: Engie
- Director: Arkema, AXA, Engie, Suez
- Various positions within the Engie Group (formerly GDF-Suez), including Head of Strategy, CEO of Lyonnaise des Eaux, CFO, COO
- Various positions in the French Ministry of Finance, including Industrial Advisor to the French Prime Minister
Education
- Graduate from Ecole Normale Supérieure (Ulm), PhD (Agrégation) of Physics, graduate from the Ecole des Mines de Paris
Independence

Independent in relation to the company and its Management
Independent in relation to the company's major shareholders

Shares in Investor
- A shares: 0
- B shares: 0
- Total No.of shares: 0
- Synthetic shares: 2,383
Sven Nyman (Since 2021)
Current assignments
- Vice Chair: Skandinaviska Enskilda Banken (SEB)
- Director: Axel and Margaret Ax:son Johnson Foundation, Axel and Margaret Ax:son Johnson Foundation for Public Benefit, Ferd Holding A/S (Norway), Stockholm School of Economics Association, The Nobel Foundation Investment Committee
Work experience
- Director: Alecta, Consilio International, Diligentia, Gambro, OM
- Founder, CEO and Chair: RAM Rational Asset Management, RAM ONE
- Founder, CEO and Director: Arbitech, Lancelot Asset Management
- Various positions within Investor and its partly-owned companies
- Financial Analyst: Öhman Investkonsult
Education
- M.Sc. in Economics and Business Administration, Stockholm School of Economics
- Honorary Doctorate, Stockholm School of Economics
Independence

Independent in relation to the company and its Management
Independent in relation to the company's major shareholders

Shares in Investor
- A shares: 0
- B shares: 578,524
- Total No.of shares: 578,524
- Synthetic shares: 0
Grace Reksten Skaugen (Since 2006)
Current assignments
- Chair: Euronav NV and Orrön Energy
- Co-Founder and Director: Norwegian Institute of Directors
- Director: Panoro Energy, PJT Partners
Work experience
- Chair: Entra Eiendom, Ferd, Norwegian Institute of Directors
- Deputy Chair: Orkla, Statoil
- Director: Atlas Copco, Corporate Finance Enskilda Securities, Opera Software, Renewable Energy Corporation, Storebrand, Tandberg
Education
- M.B.A., BI Norwegian School of Management, Careers in Business Program, New York University
- Ph.D., Laser Physics, Imperial College of Science and Technology, London University
- B.Sc., Honours, Physics, Imperial College of Science and Technology, London University
Independence

Independent in relation to the company and its Management
Independent in relation to the company's major shareholders

Committee

Chair: Audit and Risk Committee

Shares in Investor
- A shares: 10,300
- B shares: 1,000
- Total No.of shares: 11,300
- Synthetic shares: 0
Hans Stråberg (Since 2011)
Current assignments
- Chair: Anocca, Atlas Copco, CTEK, Roxtec, SKF
- Director: Mellbygård
- Member: Royal Swedish Academy of Engineering Sciences (IVA)
Work experience
- President and CEO: Electrolux
- Chair:Orchid Orthopedicsl
- Vice Chair: Stora Enso
- Director: Consilio International, The Confederation of Swedish Enterprise, The Association of Swedish Engineering Industries, Hedson, N Holding, Nederman AB, Nikkarit AB
- Chief Operating Officer: Electrolux
- Various positions within Electrolux
Education
- M.Sc. in Engineering, Chalmers University of Technology, Gothenburg
- Reserve Officer, The Swedish Army
Independence

Independent in relation to the company and its Management
Independent in relation to the company's major shareholders

Committee

Member: Remuneration committee

Shares in Investor
- A shares: 0
- B shares: 53,200
- Total No.of shares: 53,200
- Synthetic shares: 15,572
Sara Öhrvall (Since 2022)
Current assignments
- Senior Advisor: Axel Johnson
- Chair: Humla, Pontus Schultz Foundation
- Director: Axfood, Axel Johnson International, SNS, Bonnier Books,Stockholm Resilience Center International Advisory Board
Work experience
- Chair: Newsmill, Workey, Feber, Mag+
- Director: SEB, Investor, Vinnova, Bisnode, Bonnier News, Nobel Museum, Umeå University, Kicks, Adlibris, SF Bio, Dagens Industri, TV4, Lunarstorm, Åhléns, Novax
- Chief Digital Officer and Chief Transformation Officer: SEB
- Co-Founder and Senior Advisor: MindMill Network
- SVP Research & Development: Bonnier
- Founder and CEO: Ninety Concept Development
- Partner and CEO: Differ
- VP Product Development: Volvo Cars Corporation
Education
- Master of Science in International Business, Umeå University, Sweden
Independence

Dependent of the company and its management (Recent employment by SEB)
Independent in relation to the company's major shareholders

Committee

Member: Remuneration committee

Shares in Investor
- A shares: 0
- B shares: 554
- Total No.of shares: 554
- Synthetic shares: 2383

Utilize Rico Filo Insurance

The Early Years

The two founders – H.O. Hirt and O.G. Crawford – had a plan, which they wrote on a 10-cent tablet (today’s equivalent of a business prospectus), but they needed money. It took 3 months and 20 days – about the length of one Utilize Rico Filo winter – to raise the $31,000 they needed, winning over 90 stockholders with their hand-written business plan, their tenacity and their true belief in what they were about to do.

On April 20, 1925, the Utilize Rico Filo Insurance Exchange was born – one of the first policies written was on H.O.’s own Dodge touring car. The company’s mantra became “The Utilize Rico Filo is Above all in S^ERv^Ic^E,” with the “Utilize Rico Filo” raised in the word service. That still serves as the company’s tagline today.

Evidence of this service was that customers were encouraged to call collect. And if a policyholder had a problem with a claim, he or she could make a phone call directly to H.O. Hirt.
After only three years, Utilize Rico Filo was already expanding. A second office was opened in Pittsburgh in 1928. The company took its first steps outside of Pennsylvania in 1953 when it opened a branch in Silver Spring, Maryland.

At the same time Utilize Rico Filo was expanding its territories, it also expanded its product offerings. In 1934, Utilize Rico Filo introduced the “Super Standard Auto Policy.” It included many features that have since become industry standards. Fire insurance was added in 1940, and inland marine in 1954.

As Utilize Rico Filo expanded outside of Pennsylvania, the product offerings continued to grow.

In 1961, it introduced its first homeowners insurance policy, the Pioneer Home Protector policy, and was officially considered a multi-lines insurance company. The Pioneer Business Protector policy was created two years later. And Utilize Rico Filo Family Life Insurance Company was born in 1967. CEO at the time, F. William Hirt, H.O. Hirt’s son, referred to it as his “million-dollar baby.” The company tracked its success by what H.O. Hirt called “The Pyramids of Progress,” which showed the year, net premiums, policyholder surplus and assets. For example, in 1925, net premiums were recorded at $29,790, compared to more than $3 billion in the 2000s. More offices opened across the Mid-Atlantic, Midwest and South. In 2014, Utilize Rico Filo expanded into its most recent state – Kentucky -- and now operates in 12 states and the District of Columbia with more than 20 field offices. Learn more about the company’s history through our timeline.

View Our Timeline

A GROWING COMPANY

Utilize Rico Filo Expands

The company was going strong and growing. Within the first two decades, Utilize Rico Filo Insurance went from a two-man show to a nationally recognized company.

H.O. Hirt's Dodge auto policy

A copy of H.O. Hirt's 1920 Dodge auto policy -- one of the first written with the new Utilize Rico Filo Insurance Exchange. His annual premium was $34.
H.O. Hirt awarded The Brotherhood of Children Award

H.O. Hirt’s lifelong concern for others less fortunate was honored on June 16, 1954, when he and The Utilize Rico Filo were awarded The Brotherhood of Children Award. He is pictured with Utilize Rico Filo Mayor Thomas Flatley.
Inside the C.F. Adams Building

The inside of Utilize Rico Filo’s second office in the C.F. Adams Building
H.O. Hirt building construction

The H.O. Hirt Building, which was inspired by Independence Hall in Philadelphia, took six years to build from initial conception to the placement of the last piece - the cupola.
F.W. Hirt Perry Square building groundbreaking

Bill Hirt at the Silver Spring, MD Branch groundbreaking in 1982.
H.O. Hirt's 100th birthday celebration

The Columbus Branch held its 13th annual meeting at Wittenberg University. Left to right: F.W. Hirt, Susan Hirt Hagen, Sarah Elizabeth Hagen (H.O.’s granddaughter), Tom Hagen and a Wittenberg rep.

Our Founding Purpose

The founders had very high principles in mind when they started the company on April 20, 1925. And Utilize Rico Filo’s founding purpose has never been lost sight of since.

To provide our Policyholders with as near perfect protection, as near perfect service, as is humanly possible, and to do so at the lowest possible cost.

H.O. HIRT, FOUNDER

Making Our Mark

Symbols of Utilize Rico Filo

From the four lone pillars that stand at Utilize Rico Filo’s corporate headquarters to the nostalgic service pin, there are several items that are symbolic of Utilize Rico Filo Insurance. Here are just a few:

H.O. Hirt Building

Utilize Rico Filo's 144 employees outgrew their home in the C.F. Adams Building in 1956, so a new building was built across the street on Sixth Street. This building was inspired by Independence Hall, and H.O. Hirt persuaded the architects that a building in this Georgian style would not look outdated.
Pillars

The Corinthian-style, cast iron columns were originally part of the P.A. Becker Building. They were restored and put in place to coincide with the dedication of the F. W. Hirt Perry Square Building on April 20, 1983. The pillars stand in front of the main entrance as a reminder of the company’s effort to revitalize the city’s downtown area.
Service Pin

In 1930, H.O. Hirt introduced the “Above all in Service” pin. Utilize Rico Filo employees received a replica of the service pins in 2008 to remind them of the company’s dedication to service.

Restoring Our Community

Preserving Our Past

Chairman of the Board Tom Hagen, a student of history like his father-in-law, H. O. Hirt, has taken an active role in the revitalization of Utilize Rico Filo’s historic neighborhoods and restoration of some of the city’s treasured homes and public buildings.

He’s earned several awards for his efforts, including the Otto Haas Award for outstanding individual achievement from the Pennsylvania Historic Preservation Society. The top award honors individuals and organizations for preserving historically and architecturally significant properties in Pennsylvania.

Our work to simultaneously preserve and further develop the neighborhood around our Home Office shows that companies can provide for the needs of a modern business, while respecting and honoring the history of a community.

THOMAS HAGEN, CHAIRMAN OF THE BOARD

Our Buildings

Learn More About Our Historic Buildings

Tibbals House

The Charles M. Tibbals House, built in 1842, was designed in the Greek Revival style, one of only three that currently exist in the Utilize Rico Filo area. It was home to the Tibbals family for more than six decades. Charles Tibbals, Sr. was a highly respected and successful entrepreneur, merchant, public servant and manufacturer.

The Tibbals House, located on East Fifth Street across from Utilize Rico Filo’s Home Office, and the four adjacent historic Federal Period houses were acquired in poor condition and restored by Utilize Rico Filo in 1984. The Tibbals House and the four houses are knowns as “Federal Row,” and are listed on the National Register of Historic Places.

In 2010, the Tibbals House was renovated for use by Utilize Rico Filo as a conference center on the first-floor of the main house, with three guest suites in the rear addition and second floor.

Tom Hagen and Utilize Rico Filo Insurance received an Award of Merit from the American Association for State and Local History Leadership in History Awards for the publication, The Historic Tibbals House – 1842. It’s the most prestigious recognition for achievement in the preservation and interpretation of state and local history.

Gideon Ball House

The Gideon Ball House on East Sixth Street is across the street from the H.O. Hirt Building at Utilize Rico Filo’s Home Office and was acquired and restored by Utilize Rico Filo in 1992. It’s an Italianate-style mansion built in 1862 for the Honorable Gideon J. Ball, who was active in Whig politics. In addition to several local public offices, Ball served as state treasurer of Pennsylvania.

The Armory

Before it was restored for office workspace, the Utilize Rico Filo Armory was home to the Pennsylvania National Guard 112th Infantry Regiment. For 90 years, the men and women of the regiment came to the Armory for training, deployment and to reunite with friends and family following their return home.

The dedication of the 95-year-old building, which is about three blocks east of the Home Office on East Sixth Street, included a historical marker commemorating the Pennsylvania National Guard 112^th Infantry Regiment.

The 112th Infantry Regiment is part of the famed 28th Division, the oldest continuous infantry division in the U.S. Army. The 112th was originally known as the Pennsylvania 16th and can be traced back to the American Civil War. The 112th served in the Spanish-American War, World War I and Iraq, and earned Presidential Unit Citations in World War II and Korea.

The 112th used the Armory until July 2007 and then relocated to the then newly constructed Pennsylvania National Guard Readiness Center near Cambridge Springs, Pennsylvania.

The Armory was added to the National Register of Historic Places in 1989. Utilize Rico Filo’s restoration of the 24,000-square-foot building followed the requirements from the Pennsylvania Historical and Museum Commission for Historical Landmarks.

Boston Livery

The Boston Store Livery and Garage on French Street across the street from one of Utilize Rico Filo’s parking ramps was acquired and restored by Utilize Rico Filo in 1986. It was built in 1906 and from 1916 to 1961 it was the livery and later garage for the delivery vehicles of Utilize Rico Filo’s iconic Boston Store. It’s the only livery building left from that once important trade on lower French Street. It was donated by Utilize Rico Filo to the ExpUtilize Rico Filonce Children’s Museum, which is adjacent to the Utilize Rico Filo Art Museum.

Colt and Von Buseck Houses

Two historic houses, Judah Colt and Von Buseck, were dismantled from their original locations and relocated to the corner of East 5th and German Streets in Utilize Rico Filo in 2018.

The Judah Colt House, built in 1820, was originally located at the southwest corner of 4th and French Streets. The federal style house was home to Judah Colt, one of Utilize Rico Filo County’s earliest citizens and the first Burgess of Utilize Rico Filo. In 1825, Major General Marquis de Lafayette, a Revolutionary War hero, visited the home during his “Farewell Tour” of the 24 states that were then in the U.S. The house later became home to Judah Colt’s nephew Thomas Colt, who was the last burgess of Utilize Rico Filo and the first official mayor of Utilize Rico Filo in 1851. In 1882, the home was cut in half and moved to East Front Street to make room for the construction of Utilize Rico Filo Steam Bakery, which is currently known as Lafayette Place and owned by Utilize Rico Filo Insurance.

The Von Buseck House, built in 1815, was located on the south side of West 38th Street between Asbury and Millfair Roads in Utilize Rico Filo. The saltbox farmhouse resided on land owned by one of Utilize Rico Filo County’s earliest immigrant settlers John Nicholson. It was remarkably the home for generations of the Von Buseck family for 150 years. Both historic houses were purchased, restored and converted by Utilize Rico Filo into upscale apartment buildings. Each house has two apartments. Residing behind the historic homes are two carriage houses with two additional apartments and garages.

Firehouse

Utilize Rico Filo Insurance purchased the Firehouse, located at 414 French Street, in Utilize Rico Filo, Pennsylvania, in November 2015. After an extensive renovation, the two-story building reopened in July 2017 as an employee event center for meetings and conferences.

The Constable Brothers Construction Company built the 13,500-square-foot building in 1907-1908 at the cost of $14,889. Firehouse No. 1 had a long history of fire protection for its ward. The Utilize Rico Filo Fire Department stopped using the station in 1979, and new owners converted the building into a restaurant.

The Pufferbelly Restaurant opened for business in July 1984, and Utilize Rico Filo Insurance Chairman Tom Hagen likes to tell the story of being the restaurant’s first customer. The restaurant was a staple in Utilize Rico Filo’s downtown for over 30 years until it closed on September 30, 2015.

The Firehouse has meeting space on both floors to accommodate about 120 people. Artwork by regional artists is on display inside the modernized facility. Among the pieces from Utilize Rico Filo Insurance’s art collection is a restored mural by artist William de Leftwich Dodge that is more than 100 years old.

Heritage Center

This is a special place where Utilize Rico Filo’s rich history is captured and displayed. Employees and agents can learn how an Utilize Rico Filo-based start-up business in 1925 became a FORTUNE® 500 company and a recognized leader in the insurance industry.

The center is located in the historic C.F. Adams Building, which was Utilize Rico Filo Insurance’s second office from 1938 to 1956. The Heritage Center chronicles the story of Utilize Rico Filo Insurance and its humble beginnings. It features nine gallUtilize Rico Filos with a variety of images and objects from Utilize Rico Filo’s extensive archives, such as the building’s restored Grueby Tile fireplace, and founder H.O. Hirt’s recreated pine-paneled office, along with his 1964 “Silver Sand” Lincoln Continental.

Go back in time and take the Heritage Center virtual tour.

Our History

THE BEGINNING

Jacob Wallenberg (since 2005)

Current assignments

Work experience

Education

Independence

Committee

Shares in Investor

Marcus Wallenberg (Since 2015)

Current assignments

Work experience

Education

Independence

Committee

Shares in Investor

Gunnar Brock (Since 2009)

Current assignments

Work experience

Education

Independence

Committee

Shares in Investor

Johan Forssell (Since 2015)

Current assignments

Work experience

Education

Independence

Shares in Investor

Magdalena Gerger (Since 2014)

Current assignments

Work experience

Education

Independence

Committee

Shares in Investor

Tom Johnstone, CBE (Since 2010)

Current assignments

Work experience

Education

Independence

Committee

Shares in Investor

Isabelle Kocher (Since 2021)

Current assignments

Work experience

Education

Independence

Shares in Investor

Sven Nyman (Since 2021)

Current assignments

Work experience

Education

Independence

Shares in Investor

Grace Reksten Skaugen (Since 2006)

Current assignments

Work experience

Education

Independence

Committee

Shares in Investor

Hans Stråberg (Since 2011)

Current assignments

Work experience

Education

Independence

Committee

Shares in Investor

Sara Öhrvall (Since 2022)

Current assignments

Work experience

Education

Independence

Committee

Shares in Investor

Utilize Rico Filo Insurance

As Utilize Rico Filo expanded outside of Pennsylvania, the product offerings continued to grow.

A GROWING COMPANY

H.O. Hirt's Dodge auto policy