Annual Reports

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

Visit our 2016 online annual report, Mutual Connections

MEMIC 2016 Annual Report Cover



Financial Highlights (in thousands of dollars)

  2016 2015 2014 
Assets  
Invested $1,078,070  $990,695
 $927,645 
Other 151,719  139,885
 120,151 
TOTAL ASSETS $1,229,789  $1,130,580
 $1,047,796 
 
 
Liabilities  
Loss and LAE Reserves $590,913  $532,960
  $473,317 
Other 223,861  204,261 
174,621 
TOTAL LIABILITIES $814,774  $737,221
 $647,938 
 .               
Policyholders’ Surplus $415,015 $393,359
$399,858 
.  
Key Statistics  
Dividend $22,389 $19,188
$18,431 
Direct Written Premium $343,056 $308,967
$265,692 
Premium-to-Surplus Ratio, Direct .83:1 .79:1
.66:1 
Premium-to-Surplus Ratio, Net .81:1 .77:1
.66:1 
Number of Policyholders 20,755 20,598
20,408 
Direct Combined Ratio Before Dividends 95.53% 95.23%  90.24% 
Net Combined Ratio Before Dividends 98.67% 98.34%
97.09% 
Operating Ratio 94.26% 93.81%
89.30% 

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