July 20, 2016
Western National Insurance Group Achieves $400 Million Surplus and $1 Billion Assets Milestones, Announces Second Quarter Results
(Minneapolis, Minn.) Western National Insurance Group today announced financial results through June 30, 2016, including the significant milestones of reaching $400 million in policyholder surplus and $1 billion in total assets. Noteworthy financial measures include:
Surplus of $408.1 million
Total Assets of $1.1 billion
Combined Ratio of 91.3%
These figures reflect the combined performance of all group companies, including Western National Mutual Insurance Company and its subsidiaries: American Freedom Insurance Company, Arizona Automobile Insurance Company, Pioneer Specialty Insurance Company, Umialik Insurance Company, Western National Assurance Company, and Western Home Insurance Company. Results from affiliate Michigan Millers Mutual Insurance Company and newly closed (July 1) acquisition Nevada General Insurance Company were not included.
“We’re pleased to report these milestones along with solid growth and profitability through the second quarter of 2016,” said Stuart Henderson, President and Chief Executive Officer of Western National Insurance Group. “Fifteen years ago, our surplus was $63.9 million, our assets totaled $238 million, and we were rated B+ by A.M. Best. Hard work, focus on our customers, and partnerships with professional agents have driven these consistently strong results, allowing us to add to the Group’s financial foundation for the continued protection of our policyholders. We look forward to building on these successes in the months and years ahead.”
Western National Insurance Group, headquartered in Edina, Minn., is a super-regional property-and-casualty insurance group writing over $520 million in Direct Premium in 19 states, plus surety in an additional 7 states. The group consists of eight active insurance companies (Western National Mutual Insurance Company, Western National Assurance Company, Pioneer Specialty Insurance Company, Western Home Insurance Company, Arizona Auto Insurance Company, Umialik Insurance Company, American Freedom Insurance Company, and Nevada General Insurance Company), as well as one affiliate company (Michigan Millers Mutual Insurance Company), together serving personal and commercial customers in the Midwestern, Northwestern, and Southwestern U.S, and in Alaska. All of the group’s products are sold exclusively through professional Independent Insurance Agents.
For further information, please contact:
Steve Norman, CPCU, M.A., AIT, Assistant Vice President – Communications
(952) 921-5680 or (800) 862-6070 Ext. 7680