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MFM's second quarter results exceed expectations! icon

To all MFM Agents: With 6 months down and 6 months to go, we are very pleased to report to you our year to date results. First of all, this has been a much quieter year of storm activity than last year was. By this time last year, our claims people were working 6 separate storm catastrophes across our entire operating territory. This compares to one relatively small storm this year. Our Combined Ratio through June is an estimated 95 which compares very favorably to the 98 at this same time a year ago. In another month or two, we will exit the traditional storm season. If we can continue to avoid storms the balance of the year, our momentum so far to date would imply record results. Time will tell.

Welcome to all of our new Oregon agencies. We became active in Oregon in second quarter of this year. Overall Company sales success this year has been wonderful and well ahead of our business plan. We have now grown written 9.5% to date versus a planned sales goal of 7%. A big thank you to our agents for continued sales momentum and success. We sincerely appreciate your business. As a result of growing with a relatively fixed amount of expenses, we now can report an expense ratio of roughly 23%. The lower expense ratio allows MFM to have a higher permissible loss ratio to remain profitable. This business profile allows us to remain a stable market for you for many years to come. Success breeds more success.

Remember our MFM Mission: 'We serve our Agents first to serve Policyholders best!' Thanks again for your business and have a great summer!

Best regards,

Ronald Boyd, CPCU
President and CEO

Posted on Wednesday, July 11 @ 09:48:19 -05:00
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