Annual Reports

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
                                                                                                                                                                        

 

2020 MEMIC Financials

2020 Annual Report Summary

Past Annual Reports

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