Main Street America Reports Strong 2015 Results

P&C Carrier Achieves $91.4M Net Income, 7.9 Percent ROE, $968M Net Premium, $60M Surplus Growth, 99.8 Combined Ratio

JACKSONVILLE, Fla.--()--The Main Street America Group, a super-regional property/casualty insurance carrier, announced today its 2015 financial results included a 7.9 percent return on equity, 99.8 combined ratio, net income of $91.4 million, net written premium of $968 million and surplus growth of $60 million for the fiscal year ended Dec. 31, 2015.

Main Street America’s 2015 Financial Highlights

  • Net income of $91.4 million, the highest level of net income the company has ever reported, and a 142 percent increase over 2014 net income of $37.9 million.
  • 7.9 percent return on equity, driven by investment returns of $74.1 million. The company’s return on equity in 2014 was 5.1 percent.
  • Surplus growth of $60 million to $1.071 billion. The company exceeded $1 billion in surplus for the first time in 2014.
  • Total admitted assets increased by $59 million to $2.42 billion.
  • Net written premium of $968 million, a 1 percent decline versus 2014 net written premium of $967 million.
  • Combined ratio of 99.8, a significant improvement over the company’s 2014 combined ratio of 103.7, resulting in an underwriting gain of just under $3 million.
  • Profitable underwriting results in its commercial lines, surety and commercial agribusiness product operations, as well as its Florida Region and Northeast Region sales operations.
  • Affirmation of the company’s A.M. Best Financial Strength Rating of “A” (Excellent) with a Stable Outlook, as well as its “a+” Issuer Credit Rating.

“We began 2015 with the most winter storm losses incurred in our company’s 92-year history,” said Tom Van Berkel, Main Street America’s chairman and chief executive officer. “However, we stayed on course by remaining a stable and consistent market for our independent agent-customers – while maintaining our underwriting and pricing discipline – and finished the year strong.”

Van Berkel added, “Pricing and product improvements in personal lines strengthened our competitive position and generated substantial new business growth in many of our New England, Northeast and Western Region states. Additionally, we achieved good results with our new Main Street Protection Auto program in our first two launch states – South Carolina and Virginia.”

In commercial lines, Main Street America implemented its new cyber risk coverage, as well as its expanded workers’ compensation program. The company’s surety operations expanded into Mississippi and Louisiana.

“Our strong capital position leaves us very well-positioned to invest in our people, new products, enhanced technology and competitive pricing to continue to achieve success throughout our ‘Main Street’ niche in 2016,” Van Berkel concluded.

For more details about Main Street America’s 2015 performance, please read its interactive, digital 2015 Annual Report, “A Commitment to Our Customers.” Also, watch a two-part interview with Van Berkel on its YouTube channel as he discusses the company’s 2015 performance and 2016 outlook.

About The Main Street America Group

With roots dating back to 1923, The Main Street America Group is a mutual insurance holding company which writes business through its nine property/casualty insurance carriers: NGM Insurance Company, Old Dominion Insurance Company, Austin Mutual Insurance Company, Grain Dealers Mutual Insurance Company, Main Street America Assurance Company, Great Lakes Casualty Insurance Company, MSA Insurance Company, Spring Valley Mutual Insurance Company and Main Street America Protection Insurance Company. Based in Jacksonville, Fla., Main Street America offers a wide range of commercial and personal insurance, as well as fidelity and surety bond products, to individuals, families and businesses throughout the United States.

With nearly $1 billion in premium written exclusively by more than 3,000 independent insurance agents, the 93-year-old company insures over 600,000 policyholders in 36 states and writes bonds in 47 states and the District of Columbia. A.M. Best Company rates The Main Street America Group with an "A" (Excellent) financial strength rating and “a+” issuer credit rating. The company has $1.071 billion in surplus (capital) and $2.42 billion in total assets.

Main Street America is the founding company partner of Trusted Choice®, the global branding program of the Independent Insurance Agents & Brokers of America. Main Street America is also a founding company partner of the consumer agent portal and the Insurance Institute for Business & Home Safety (IBHS) Research Center. For more information about Main Street America, please visit our newsroom at or connect with us on Facebook at


The Main Street America Group
Mark Friedlander, 904-380-7461

Release Summary

The Main Street America Group's strong 2015 results included $91.4 million in net income, its highest level ever, as well as $60 million in surplus growth and return on equity of 7.9 percent.


The Main Street America Group
Mark Friedlander, 904-380-7461