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A Good Year in 2013!!!! icon

To all Midwest Family Agencies: Calendar year 2013 was a good year for Midwest Family despite the fact that we set new records in storm occurrences and storm losses in 2013 by paying almost $18M in claims in 15 separate storm events across the Midwest. In fact, we did not have a single Midwestern state that avoided storm losses this past year. However, we were able to service and pay all of these claims and produce a combined ratio of roughly 99. Our 2013 results show promising trends for 2014 as we do not expect this level of storm activity to repeat in 2014. Only time will tell.

An underwriting profit coupled with consistent investment income produced a 10% surplus increase in 2013.

Premiums grew by 8% in 2013. Every state where we do business grew in 2013. We also added revenue with the additions of Arizona and Nevada. As expected Arizona and Nevada business experienced no storm losses in 2013. Our expense ratio improved by roughly 1 percentage point in 2013 influenced heavily by the incredible productivity of our employees and our “work from home” business model. Sales increases from our Agencies allow us to improve our expense ratio by achieving economies of scale on our relatively fixed expense base.

We are planning for 7% growth in premiums for 2014, and we are already ahead of this plan following a very successful January. We also expect to be active in the new states of Utah, Colorado, and Wyoming in the second quarter.

We extend a big thank you to all our Agencies for everything you do to make Midwest Family successful. We know you have choices as Independent Agents. Always know we are grateful when you recommend our products to your customers. We will continue working hard in 2014 to earn your business.

Best regards,

Ron Boyd, CPCU
President and CEO


Posted on Thursday, February 06 @ 16:22:15 -06:00
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