Financial Highlights
| in thousands |
2015 |
2014 |
||
Assets |
||||
| Invested | $ | 990,695 | $ | 927,645 |
| Other | 139,885 | 120,151 | ||
| Total Assets | $ | 1,130,580 | $ | 1,047,796 |
Liabilities |
||||
| Loss & LAE Reserves | $ | 532,960 | $ | 473,317 |
| Other | 204,261 | 174,621 | ||
| Total Liabilities | $ | 737,221 | $ | 647,938 |
| Policyholder’s Surplus | $ | 393,359 | $ | 399,858 |
Key Statistics |
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| Dividend | $ | 19,188 | $ | 18,431 |
| Direct Written Premium | $ | 308,967 | $ | 265,692 |
| Premium to Surplus Ratio, Direct | .79:1 | .66:1 | ||
| Premium to Surplus Ratio, Net | .77:1 | .66:1 | ||
| Number of Policyholders | 20,598 | 20,408 | ||
| Direct Combined Ratio before Dividends | 95.23% | 90.24% | ||
| Net Combined Ratio before Dividends | 98.34% | 97.09% | ||
| Net Operating Ratio | 93.81% | 89.30% | ||
| Change in Asset Base Year over Year | $ | 82,784 | $ | 73,086 |
Click to download complete audited statements:
“Policyholders and their employees are the reason we excel in this line of work. You have a choice of where to place your workers’ comp insurance program. As long as you continue moving forward, together with MEMIC, be assured we will do everything possible to reach, and exceed, your expectations.”
John T. Leonard
President and CEO
MEMIC