NEWS ARTICLE
April 22, 2010
Western National Insurance Group Announces First Quarter 2010 Results
Western National Insurance Group today announced financial results for 2010 through March 31. Significant comparative measures include:
- Total Assets of $582.3 million, up $12.5 million from 12/31/09
- Combined Ratio of 94.1% (versus 90.4% at 3/31/09)
- Policyholder Surplus of $240.7 million, up $5.5 million from 12/31/09
The comparison figures from 2009 do not retroactively include financials from Titan Property & Casualty Insurance Company, which Western National purchased in December 2009.
“Western National’s ability to achieve these positive results in the face of a persistently challenging market remains a hallmark of this company,” said Stuart Henderson, president & chief executive officer. “We owe this added policyholder protection to the continued expert work of our employees and independent agency partners, and we look forward to utilizing those resources to build on this success throughout 2010 and beyond.”
Western National Insurance Group, headquartered in Edina, Minn., is a super-regional property-and-casualty insurance group writing over $240 million in Direct Premium in ten states. The group consists of four active companies (Western National Mutual Insurance Company, Western National Assurance Company, Pioneer Specialty Insurance Company, and Titan Property & Casualty Insurance Company) serving personal and commercial customers in Minnesota, Nevada, Oregon, South Dakota, Utah, Washington, and Wisconsin, as well as commercial customers in Iowa, Illinois, and North Dakota. An affiliation with Fond du Lac, Wisc.-based Wisconsin American Mutual Insurance Company is currently pending Board and regulatory approval. All of the group’s products are sold exclusively through professional independent agents
For further information, please contact:
Mary S. Manley
SVP Corporate Affairs & Administration
952-921-3820
mary.manley@wnins.com
