Motorists Insurance Group recorded another strong performance in 2015, which included underwriting profits across all lines, $729 million in direct written premium, and a combined ratio of 98.8 percent. The group released its year-end results at the Motorists Mutual Insurance Co. annual policyholders meeting earlier on Monday.
“We are in a position of financial strength that ensures we can deliver on our promises to policyholders,” said Motorists President and CEO David L. Kaufman, ACAS, MAAA.
In addition, the group’s rating from A.M. Best, the leading issuer of credit ratings in the insurance industry, was affirmed as A (Excellent). Motorists was praised by A.M. Best for its strong agency partnerships, customer-responsive claims service and a rapidly developing technology platform.
“We are an extension of each agency and are committed to empowerment and local decision making through our field sales model,” Kaufman said. “Our success comes from trusting and caring relationships our associates have built with agents and policyholders. We sell only through independent insurance agents, and we always will.”
At year-end 2015, Motorists Mutual, the largest affiliate of the group by premium volume, reported $441 million in direct written premium and a combined ratio of 99.2 percent.
Board of directors members re-elected
Motorists Mutual policyholders voted during the meeting to re-elect the following members of the board of directors, each for a three-year term:
Yvette McGee Brown, partner, Jones Day
Sandra W. Harbrecht, president and CEO, Paul Werth Associates
Dennis B. Sullivan, chairman and CEO, The Nolan Company
Michael L. Wiseman, retired treasurer, The Motorists Insurance Group
Cameron E. Williams Memorial Scholarship winner announced
Morgan Johnson, a sophomore at the University of Wisconsin, has been awarded the 2016 Cameron E. Williams Memorial Scholarship. She is a finance and economics major with an emphasis in actuarial science and risk management with a 3.8 GPA.
After excelling in math in high school, a teacher approached her about a career as an actuary. She did research on the profession and found it was a path she wanted to pursue.
Johnson is a member of the Gamma Iota Sigma Fraternity and will take on a leadership position as vice president in the fall. She has been on the Dean’s List for two out of three semesters and was selected to join Alpha Lambda Delta during her freshman year. She currently serves as vice president of the organization.
Established in 2005 with funds contributed by the family of Mr. Williams and The Motorists Insurance Group, the Cameron E. Williams Memorial Scholarship assists a college student each year who is actively seeking a career in risk management, insurance or an insurance-related field.
About The Motorists Insurance Group
The Motorists Insurance Group, headquartered in Columbus, Ohio, consists of 11 property and casualty insurance, life insurance and insurance brokerage companies. The group markets insurance solutions through more than 14,000 independent agents and producers in a network of more than 2,000 agencies in states across the Midwest, Northeast and South.
The Motorists Insurance Group is rated A (Excellent) by A.M. Best Company, the leading provider of insurer ratings. The rating measures financial strength and ability to meet obligations to policyholders.