2020 Annual Report
Every year, MEMIC provides an annual report of its financials to our policyholders and general public.
2020 Financial Highlights (in thousands of dollars)
| 2020 | 2019 | |
| Assets | ||
| Invested | $1,359,592 | $1,290,596 |
| Other | $180,865 | $174,718 |
| TOTAL ASSETS | $1,540,457 | $1,465,314 |
| Liabilities | ||
| Loss and LAE Reserves | $789,115 | $750,540 |
| Other | $263,597 | $244,823 |
| TOTAL LIABILITIES | $1,052,712 | $995,363 |
| . | ||
| Policyholders’ Surplus | $487,745 | $469,951 |
| . | ||
| Key Statistics | ||
| Dividend | $27,937 | $31,888 |
| Direct Written Premium# | $398,084 | $410,853 |
| Premium-to-Surplus Ratio, Direct | .82:1 | .87:1 |
| Premium-to-Surplus Ratio, Net | .72:1 | .73:1 |
| Number of Policyholders | 20,974 | 21,340 |
| Direct Combined Ratio Before Dividends | 102.18% | 100.60% |
| Net Operating Ratio | 97.10% | 97.41% |
| Change in Asset Base Year over Year | $75,143 | $64,057 |