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Happy New Year as we say goodbye to a wonderful 2016!!! icon

To all Midwest Family Agencies: This past year was a wonderful year for Midwest Family. Our written premiums grew by 10.3% which far exceeded our sales goal of 8% for 2016. We wrote $143M in written premium in 2016. Our Combined Ratio is estimated at 94 and much improved when compared to a 96 produced in 2015. Our claims team serviced over 7500 claims this past year, the largest of which was a major hail storm in Bismarck, ND. We set a new record in 2016 with total earned Agent's profit sharing exceeding $1M for the first time ever. We are always first in the industry to pay Agent's profit sharing. Expect to receive payments within the next 10 days.

We have a significant amount of year end accounting to accomplish, but we are confident our surplus has grown substantially in 2016 from the level of 2015. At this time, we estimate a surplus gain of 16.5% to exceed $63M. It is always healthy to realize surplus gains that grow at a greater rate of increase than premium growth. We enter 2017 with good capacity to continue our long term growth and expansion plans. In 2017 our business plans call for 8% premium growth.

We sincerely appreciate your sales efforts this past year. Happy New Year to you and your families and please accept our best wishes for a great 2017.

Best regards,

Ron Boyd, CPCU
President and CEO

Posted on Wednesday, January 04 @ 13:41:54 -05:00
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