Company’s policyholders’ surplus highest in company history at
MERRILL, Wis.–(BUSINESS WIRE)–Church Mutual Insurance Company’s mission to serve organizations that
work to improve the human condition is delivering strong results.
Under the leadership of President and CEO Rich Poirier, the company
reported today during its annual meeting at the company’s headquarters
in Merrill another record year in 2016.
The highest policyholders’ surplus in company history at $663.8
million. Church Mutual reported a policyholders’ surplus of $585.1
million in 2015.
- Assets in excess of $1.6 billion.
Direct written premium of $686.3 million — the fourth consecutive year
the company has topped $600 million.
Net income of $49.4 million and a combined ratio of 93.4 percent,
marking the fifth consecutive year under 100.
The acquisition of School Boards Insurance Company of Pennsylvania,
Inc., and School Claims Services, now known as CM Regent Insurance
Company and CM Regent Solutions, helped us expand into the public
school market while diversifying our portfolio.
The establishment of CM Vantage Specialty Insurance Company, helps us
better serve policyholders by meeting unique needs.
Our alliance with Catholic Mutual provided their policyholders with
workers’ compensation and automobile coverage.
“This momentum is the result of many factors, including our excellence
in financial management and stewardship, our focus on embracing and
leveraging technology and our expansion in current and compatible
markets closely aligned with our expertise, as well as our commitment to
workforce development and diversity and inclusion,” Poirier said.
The company’s financial stability also helped Church Mutual land several
prestigious awards, including the 2016 Ward’s 50 Top Performing Property
and Casualty Insurers award. This marked the second consecutive year and
11th time overall that Church Mutual was chosen from among
3,000 potential candidates.
“During 2016, we further demonstrated our commitment to our
policyholders by making strategic investments in operations and
expertise that diversified our risk portfolio, expanded our product
suite, and enriched relationships between our policyholders and the
teams that provide them service,” said Kevin Root, senior vice president
Further highlights from 2016 include:
Innovative programs, such as our sensor program, and the use of drones
to help us safely view structures and gather data to help us better
A continued commitment to a strong workforce with our growing
diversity and inclusion program, elevating our status as a top
Further enhancing business continuity strategy with expansion in
Madison, Wisconsin, and Mechanicsburg, Pennsylvania, as well as a
second office in Merrill, providing backup offices to manage business
should a natural or man-made disaster inhibit operations at our
The establishment of CM CARES, the Church Mutual Insurance Company
foundation, allowing us to focus our giving and make a bigger impact
than ever before.
“Another highlight of the past year is our heightened focus on analytics
and data-driven strategy,” Poirier said. “In 2016, we conducted
extensive research with religious organizations to help us better
understand their priorities and decision-making behavior. The results
from that data are driving plans for sales, marketing, customer service,
claims and many other critical functions.”
About Church Mutual
Church Mutual Insurance Company, 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
- 2016 Ward’s 50 Top Performing Property and Casualty Insurers
- BenchmarkPortal Top 10 National Customer Service Center
- 2016 Wisconsin 75 Top Private Company by Deloitte US
Futuremakers Partner, by Wisconsin Technical College System
Church Mutual Insurance Company
Contact: Dawn Bernatz
Director of marketing strategy and communication