Church Mutual Insurance Company (CMIC), the nation’s largest insurer of religious organizations, has been named to the prestigious 2015 Ward’s 50 Top Performing Property & Casualty Insurers.
The Ward Group, an Aon Hewitt company, is the leading provider of benchmarking and best practices studies for insurance companies. Each year, it analyzes the financial performance of nearly 3,000 United States property and casualty insurance companies.
CMIC was the only religious insurance specialist to earn the award. It joins such industry leaders as Allstate, GEICO, Progressive and Travelers on this year’s list.
The 50 property and casualty companies on this year’s list grew their policyholders’ surplus by an average of 30.2 percent. CMIC exceeded that figure at 36.7 percent.
Other key benchmarks:
• CMIC’s 97.6 percent combined ratio beat the industry average (101.3)
• CMIC grew net premiums written 24.2 percent surpassing the industry (18.4)
“In selecting the Ward’s 50, we identified U.S. companies that pass financial stability requirements and measure their ability to grow while maintaining strong capital positions and underwriting results,” said Ward Partner and Head Jeff Rieder.
“Selection to this prestigious list puts an exclamation point on the hard work accomplished by each of our 1,000-plus employees day-in and day-out in serving our faith-based customers,” Church Mutual CEO Mike Ravn said.
“We are extremely honored to receive this recognition,” Church Mutual President Rich Poirier added. “Because we are a mutual company and our customers own us, our employees are conscientious about providing consistent quality service to them.”