2019 Annual Report
Every year, MEMIC provides an annual report of its financials to our policyholders and general public.
Financial Highlights (in thousands of dollars)
| 2019 | 2018 | |
| Assets | ||
| Invested | $1,290,596 | $1,229,130 |
| Other | $174,718 | $172,127 |
| TOTAL ASSETS | $1,465,314 | $1,401,257 |
| Liabilities | ||
| Loss and LAE Reserves | $750,540 | $726,618 |
| Other | $244,823 | $250,909 |
| TOTAL LIABILITIES | $995,363 | $977,527 |
| . | ||
| Policyholders’ Surplus | $469,951 | $423,730 |
| . | ||
| Key Statistics | ||
| Dividend | $31,888 | $27,872 |
| Direct Written Premium# | $410,853 | $402,706 |
| Premium-to-Surplus Ratio, Direct | .87:1 | .95:1 |
| Premium-to-Surplus Ratio, Net | .73:1 | .95:1 |
| Number of Policyholders | 21,340 | 21,196 |
| Direct Combined Ratio Before Dividends | 100.60% | 96.94% |
| Net Operating Ratio | 97.41% | 95.72% |
| Change in Asset Base Year over Year | $64,057 | $71,233 |