Annual Reports

Every year, MEMIC provides an annual report of its financials to our policyholders and general public.

2021 Financial Highlights (in thousands of dollars)

2021  2020
Assets
Invested $1,453,844 $1,359,592 
Other $171,399 $180,865 
TOTAL ASSETS $1,625,243 $1,540,457 
 
 
Liabilities  
Loss and LAE Reserves $819,903 $789,115 
Other $278,432 $263,597 
TOTAL LIABILITIES $1,098,335 $1,052,712 
.  
Policyholders’ Surplus $526,908 $487,745 
.  
Key Statistics  
Dividend $28,004 $27,937 
Direct Written Premium# $389,082 $398,084 
Premium-to-Surplus Ratio, Direct .74:1
.82:1 
Premium-to-Surplus Ratio, Net .68:1
.72:1 
Number of Policyholders 21,031
20,974  
Direct Combined Ratio Before Dividends 100.65%
102.18% 
Net Operating Ratio 83.11%
97.10% 
 
Change in Asset Base Year over Year $84,786 $75,143 

2021 MEMIC Financials

Past Annual Reports

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