Church Mutual Has Record Premium, Surplus and Assets

MERRILL, Wis.–(BUSINESS WIRE)–Church Mutual Insurance Company (CMIC) posted record numbers in 2015,
President and CEO Rich Poirier reported at Wednesday’s annual meeting at
the company’s headquarters in Merrill.

Some of the highlights included:

  • The highest policyholders’ surplus in company history at $585.1 million
  • Assets in excess of $1.6 billion
  • Direct written premium of $663.1 million – the third consecutive year
    the company has topped $600 million

In addition, the company posted the lowest claim volume (26,121) in
almost 30 years.

“Mild weather patterns across the country and our risk control
partnership with our almost 100,000 customers have allowed us to become
stronger financially,” Poirier said. “That means we will be there for
our customer-owners when we are needed most.”

Other impressive numbers that contributed to Church Mutual’s bottom line
included net income of $58.1 million and a combined ratio of 91.3
percent, marking the fourth consecutive year under 100.

That financial stability prompted prestigious recognition from Ward’s as
Church Mutual was named one of its 50 Top Performing Property & Casualty
Insurers. The company was chosen from among 3,000 potential candidates.

“During 2015, we further demonstrated our commitment to our
policyholders by making strategic investments in operations and
expertise that will diversify our risk portfolio, expand our product
suite, and enrich relationships between our policyholders and the teams
that provide them service,” Poirier said.

Strategic investments include:

  • An alliance with Catholic Mutual Group brings together the expertise
    of two institutions committed to serving religious organizations.
    Church Mutual will be the provider of workers’ compensation and
    automobile insurance coverages.
  • Planned acquisition of the insurance operations of the Pennsylvania
    School Boards Association expands CMIC expertise and reach in both
    public and parochial schools.
  • Formation of CM Vantage Specialty Insurance Company, an excess and
    surplus lines company, will allow CMIC to offer coverage for the
    unique risks of our policyholders.

“We are intentionally diversifying our book of business across the
United States,” Poirier said. “These actions demonstrate our commitment
to the religious organizations, schools, senior living centers, and
camps and conference centers we serve. These actions also demonstrate
our commitment to deepen expertise and grow responsibly by expanding
into compatible markets.”

Continuing to emphasize the importance of service to its customers,
Poirier noted that the company’s customer service center in Merrill was
recently ranked among the Top 10 Centers of Excellence in the nation by

“This kind of success allows us to invest in our insurance and
technology infrastructures and our community,” Poirier added. “We are
soon going live with a new policy administration system that will allow
us to offer new products that meet the unique needs of our
policyholders. We have also recently expanded our Merrill facilities by
renovating a large space that was vacated by Walmart when they
constructed a new standalone space across the street.”

Church Mutual is rated A (Excellent) by industry rating analyst A.M.
Best. It insures more than twice as many religious organizations as its
nearest competitor.

Fact Sheet

Church Mutual’s mission is to be the premier provider of insurance
services to our customers in the religious institutional marketplace and
other compatible markets.


  • 3000 Schuster Lane, Merrill, WI


  • 1897

Market Area

  • All 50 states and the District of Columbia

Products and Services

  • Most lines of commercial property and liability insurance, including
    multi-peril, workers’ compensation and commercial auto insurance

Insurance Specialty

  • Churches, schools (public/private, K-University), camps, conference
    centers and assisted living centers

Number of Employees

  • 800 home office
  • 240 in the field

Awards and Recognition

  • “A (Excellent)” rating with A.M. Best Company


Company Overview

  • Unusual niche market leader
  • Expansion through diversification
  • Physical expansion to second facility
  • Unprecedented industry recognition
  • Changing of the guard

2014 Financials Report

  • 88.7 combined ratio
  • Two-year claims volume 56,433
  • Net income $76 million
  • Direct written premium $639 million
  • Policyholders’ surplus $536 million

2015 Recap

  • March 19 – President Rich Poirier elected to Board of Directors.
  • April 2 – CMIC addresses space limitations at Merrill Home
    Office by signing long-term lease to rent space in former Walmart
    building at Pine Ridge Plaza. Church Mutual today has more than 1,000
    employees, including 800-plus in Merrill, a town of 9,000 residents.
  • April 29 – CMIC’s Commercial Lines Operations Service Center
    achieves top-10 ranking by BenchmarkPortal in competition involving
    more than 500 call centers in the United States and Canada.
  • July 22 – Church Mutual named to the prestigious Ward’s 50 Top
    Performing Property & Casualty Insurers. Company was chosen from among
    3,000 potential candidates.
  • September 23 – CMIC partners with Merrill High School students
    to build Mike and Jean Ravn Reflection Center on Church Mutual
    grounds. Part of Human Resources’ internal wellness initiative.
  • September 25 – Church Mutual enters strategic alliance with
    Catholic Mutual to provide workers’ compensation and automobile
  • October 13 – Church Mutual announces intent to acquire the
    insurance operations of the Pennsylvania School Board Association
    (PSBA), including the School Board Insurance Company of Pennsylvania,
    Inc. (SBIC of PA) and School Claims Services, LLC (SCS). The move
    expands the company’s public schools insurance initiative.
  • November – Church Mutual announces the creation of CM Vantage
    Specialty Insurance Company, an excess and surplus lines carrier that
    will be in operation and based in Madison in 2016.
  • December 16 – Rich Poirier named new CEO to replace retiring
    Mike Ravn.


Church Mutual Insurance Company
Contact: Jay Lillge
Corporate Communications Manager
Phone: (715) 539-4503