Western National Insurance Group today reported on its financial results for 2007 through March 31. These numbers reflect the pooled results of Western National Mutual Insurance Co., Western National Assurance Co., Farmers Home Mutual Insurance Co., Western Home Insurance Co. and Pioneer Insurance Co.. All comparisons mentioned are to results as of March 31, 2006.
• Net written premiums of $54.5 million, up 6.5 percent.
• Combined ratio of 89.5 percent (versus 89.6 percent at 3/31/06).
• Net income after tax of $7.12 million, up 18 percent.
• Policyholder surplus of $196.2 million, up 16.3 percent (after adjustment for Surplus Note).
• Total assets of $506.1 million, up 2.5 percent.
Western National Insurance Group consists of five regional property/ casualty insurance companies with shared administrative offices in Edina, Minn. Western National Mutual Insurance Co. writes personal and commercial lines in Minn., Wis., S.D., N.D. and Iowa.; Western National Assurance Co. writes personal and commercial lines in Wash. and Ore. (and maintains an underwriting and claim office in Seattle); and Farmers Home Mutual Insurance Co., Western Home Insurance Co. and Pioneer Insurance Co. write personal lines in Minn., Wash., Nev., and Utah. All of the companies’ products are sold exclusively through professional independent agents.
Source: Western National Insurance Group
For further information, contact:
Mary S. Manley, SVP Corporate Affairs & Administration
952-921-3820
mary.manley@wnins.com
Topics Profit Loss Minnesota
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