Annual Reports

Annual Report 2019 Web Header
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
                                                                                                                                                                        

 

2019 MEMIC Financials

Past Annual Reports

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