2018 Annual Report
Every year, MEMIC provides an annual report of its financials to our policyholders and general public.
Financial Highlights (in thousands of dollars)
| 2018 | 2017 | |
| Assets | ||
| Invested | $1,229,130 | $1,172,544 |
| Other | $172,127 | $157,480 |
| TOTAL ASSETS | $1,401,257 | $1,330,024 |
| Liabilities | ||
| Loss and LAE Reserves | $726,618 | $653,149 |
| Other | $250,909 | $237,878 |
| TOTAL LIABILITIES | $977,527 | $891,027 |
| . | ||
| Policyholders’ Surplus | $423,730 | $438,997 |
| . | ||
| Key Statistics | ||
| Dividend | $27,872 | $25,163 |
| Direct Written Premium# | $402,706 | $381,799 |
| Premium-to-Surplus Ratio, Direct | .95:1 | .87:1 |
| Premium-to-Surplus Ratio, Net | .95:1 | .85:1 |
| Number of Policyholders | 21,196 | 20,924 |
| Direct Combined Ratio Before Dividends | 96.94% | 96.94% |
| Net Operating Ratio | 95.72% | 96.46% |
| Change in Asset Base Year over Year | $71,233 | $100,235 |
2018 MEMIC Financials