MEMIC Named Among Nation's Top 50 P/C Insurers for Third Year in a Row; Honor Goes to Top 2 Percent
August 24, 2004 | Financial
PORTLAND, ME, August 24, 2004 – Maine Employers' Mutual Insurance Company (MEMIC) has been named among the nation's top 50 property/casualty insurance companies by one of the industry's most respected organizations for the third year running.
In its August 23 issue Business Insurance magazine announced that a recently-completed analysis by Ward Group, a Cincinnati-based management consulting firm, placed MEMIC in its Ward's 50, a listing of the top property/casualty insurance companies in the United States . Ward Group annually analyzes 2,900 property/casualty insurance companies. MEMIC was just one of three workers' compensation-only insurers in the top 50.
“We are thrilled and humbled to have achieved recognition in this group for a third straight year,” said MEMIC President and CEO John T. Leonard. “The Ward 50 is a highly-respected benchmark within our industry. Workers' compensation is a very tough business and not many companies who write only workers' comp make this kind of listing. This honor provides our policyholders with further evidence that they are insured by a reliable, high-performing company."
"We continue to set our goal to be the best performing insurance company in the country. This shows us that we're among an elite group and affirms that we're on the right path."
Since 1991, Ward Group has conducted an annual analysis of the property-casualty insurance industry. The objective of the analysis is to recognize the 50 companies that have excelled at balancing safety, consistency and performance over the past five years (1999 to 2003) and then to benchmark their performance with the industry overall. The top 50 companies become the Ward's 50 Benchmark Group for the year. A complete list of the Ward's 50 benchmark group for the property-casualty industry as well as the life-health companies is available at www.wardinc.com.
###
About MEMIC
Maine Employers' Mutual Insurance Company (MEMIC), based in Portland, Maine, is Maine's largest and leading workers' compensation insurer, providing coverage to 20,000 Maine employers and their estimated 170,000 employees. The company is rated ‘A' (Excellent) by A.M. Best. MEMIC Indemnity Company, based in Manchester, NH, (rated A- (Excellent) by A.M. Best) is a wholly-owned subsidiary of MEMIC. A workers' compensation specialty company, it is licensed to write workers' compensation policies in New Hampshire, Vermont, Massachusetts, Connecticut and New York.
In its August 23 issue Business Insurance magazine announced that a recently-completed analysis by Ward Group, a Cincinnati-based management consulting firm, placed MEMIC in its Ward's 50, a listing of the top property/casualty insurance companies in the United States . Ward Group annually analyzes 2,900 property/casualty insurance companies. MEMIC was just one of three workers' compensation-only insurers in the top 50.
“We are thrilled and humbled to have achieved recognition in this group for a third straight year,” said MEMIC President and CEO John T. Leonard. “The Ward 50 is a highly-respected benchmark within our industry. Workers' compensation is a very tough business and not many companies who write only workers' comp make this kind of listing. This honor provides our policyholders with further evidence that they are insured by a reliable, high-performing company."
"We continue to set our goal to be the best performing insurance company in the country. This shows us that we're among an elite group and affirms that we're on the right path."
Since 1991, Ward Group has conducted an annual analysis of the property-casualty insurance industry. The objective of the analysis is to recognize the 50 companies that have excelled at balancing safety, consistency and performance over the past five years (1999 to 2003) and then to benchmark their performance with the industry overall. The top 50 companies become the Ward's 50 Benchmark Group for the year. A complete list of the Ward's 50 benchmark group for the property-casualty industry as well as the life-health companies is available at www.wardinc.com.
Maine Employers' Mutual Insurance Company (MEMIC), based in Portland, Maine, is Maine's largest and leading workers' compensation insurer, providing coverage to 20,000 Maine employers and their estimated 170,000 employees. The company is rated ‘A' (Excellent) by A.M. Best. MEMIC Indemnity Company, based in Manchester, NH, (rated A- (Excellent) by A.M. Best) is a wholly-owned subsidiary of MEMIC. A workers' compensation specialty company, it is licensed to write workers' compensation policies in New Hampshire, Vermont, Massachusetts, Connecticut and New York.