MERRILL, Wis.--(BUSINESS WIRE)--Church Mutual Insurance Company today announced strong 2017 results for its family of companies: Church Mutual, CM Regent Insurance Company, CM Regent Solutions, CM Vantage Specialty Insurance Company and CM Solutions Insurance Agency during its annual meeting at the company’s headquarters in Merrill.
Church Mutual’s continued focus on protecting organizations that strive to support others helped drive another financially significant year for the company.
- A policyholders’ surplus at $703.7 million, up from $663.8 million in 2016.
- Assets exceeding $1.8 billion.
- Direct written premium of $761.9 million.
- Net income of $42.7 million and a combined ratio of 98.7 percent, marking the sixth consecutive year under 100 percent.
“Continued financial strength, combined with our focus on the greater good, gives us the ability to be there for our customers when they need us most,” said Rich Poirier, president and CEO. “From wildfires and hurricanes to senseless violence, our customers faced bigger challenges this year than they’ve seen in the past decade. We’re committed to supporting them, and, in doing so, protecting the greater good.”
The company’s financial stability also helped Church Mutual secure several prestigious awards in 2017, including a spot on the 2017 Ward’s 50 Top Performing Property and Casualty Insurers list.
In 2017, the Church Mutual family of companies also continued its heightened focus on analytics and data-driven strategy that they began in 2016.
“Capturing key market data helped guide our 2017 plans for sales, marketing, customer service, claims and other critical functions,” Poirier said. “We plan to further leverage those valuable assets in the current year to further drive customer insights and, ultimately, growth.”
Executive vice president – operations Kevin Root said, “Our continued year-over-year success is the result of many factors, including our strategic investments in operations, a diversified risk portfolio, expansion of our product suite and the deep relationships we forge with our customers.
“We are carrying that momentum into 2018 and look forward to another strong year.”
About Church Mutual Insurance Company
Church Mutual, founded in 1897, offers specialized insurance for religious organizations of all denominations, as well as schools, camps, denominational offices and senior living facilities. Church Mutual markets most lines of commercial property and liability insurance, including multi-peril, workers' compensation and commercial auto insurance. In addition to insurance, Church Mutual provides a spectrum of value-added solutions that benefit its customers. Church Mutual holds the following honors:
- A.M. Best Company "A" (excellent) rating
- 2017 Ward’s 50 Top Performing Property and Casualty Insurers
- BenchmarkPortal Top 10 National Customer Service Center
- Wisconsin 75 by Deloitte US, 2016 and 2017
- Futuremakers Partner, by Wisconsin Technical College System
- Celent Model Insurer for innovation and emerging technologies
- Award in Innovation for entrepreneurialism and innovation, by National Association of Mutual Insurance Companies
CM Regent Insurance Company and CM Regent Solutions in Mechanicsburg, Pennsylvania; CM Vantage Specialty Insurance Company in Madison, Wisconsin; and CM Solutions Insurance Agency in Merrill, Wisconsin, are wholly owned subsidiaries of Church Mutual.