Church Mutual has record premium and surplus

A calmer, gentler 2012 allowed Church Mutual Insurance Company to post some record numbers, according to President and CEO Mike Ravn.
“I like to constantly remind our employees about the volatility of the property and casualty industry,” Ravn said. “Nowhere is that more evident than in the turnaround we had in 2012 from 2011.”
The numbers bear him out:
• A combined ratio of 92.5, which includes pure loss ratio, loss adjustment expense ratio, other underwriting expense ratio and dividend ratio.
• A $42.1 million net underwriting gain.
• A drop of more than 8,000 claims that propelled the company to its lowest total in 18 years.
The good news didn’t end there. Church Mutual had a 10.4 percent surplus increase, bringing its year-end total to a record $415.3 million.
Church Mutual’s sales force generated a record $591.1 million in direct written premium, marking the ninth consecutive year it has topped the $500 million mark and the eighth in a row it exceeded $550 million.
Another record was achieved in net admitted assets, as Church Mutual finished the year at almost $1.23 billion.
“The company now insures approximately 96,000 houses of worship and related institutions in all 50 states,” Ravn said. “We wrote about 5,300 new institutional accounts in 2012.”
Church Mutual had 30,574 claims, which proved to be the lowest total since 1994.
“While Mother Nature was more cooperative, I like to think that number was the direct result of the partnership that our Risk Management Department and regional representatives have forged with our customers to help ensure their safety,” Ravn observed.
Emphasizing the importance of customer service, Ravn noted that the company’s National Customer Service Center in Merrill was recently recertified a Center of Excellence by BenchmarkPortal and The Center for Customer-Driven Quality™ founded at Purdue University. It marks the fourth consecutive year the center has earned that distinction.
Church Mutual, which now employs 901 people, is rated A (Excellent) by industry rating analyst A.M. Best. It insures more than twice as many religious organizations as its nearest competitor.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top