(NEENAH, Wis.) - Ward Group, an operational consulting firm and leading provider of benchmarking and best practices services to the insurance industry, named Jewelers Mutual Insurance Company to the 2011 list of Ward’s 50® top performing insurance companies.
Annually, Ward Group analyzes the financial performance of over 3,000 property-casualty insurance companies and nearly 800 life-health insurance companies domiciled in the United States and identifies the top performers in each segment. This group is called the Ward’s 50 for the year. Each Ward’s 50 company has passed all safety and consistency screens and achieved superior performance over the five years analyzed. This is the 21st year Ward Group has conducted the analysis.
The Ward’s 50 property-casualty group of insurance companies produced a 13.8% return on average equity from 2006 to 2010 compared to 8.7% for the property-casualty industry overall.
“This is a tremendous honor and all of us at Jewelers Mutual are very proud!” says Darwin Copeman, president and CEO of Jewelers Mutual Insurance Company. “Our employees deserve to be recognized for their efforts and being named to Ward’s 50 certainly does that. To be named among this elite group of insurers only further reinforces Jewelers Mutual as the leader in jewelry insurance.”
2011 marks the third time Jewelers Mutual has been named to the list of Ward’s 50 top performing insurance companies. The company was also recognized in 2005 and 2006.
The criteria to become part of Ward’s 50 top performers are rigorous. Insurance companies are evaluated and must pass minimum thresholds to be considered for the Ward’s 50 designation. Each company must pass primary safety and consistency tests, including:
- Surplus and premiums of at least $50 million for each of the five years analyzed
- Net income in at least four of the last five years (property-casualty)
- Adjusted net income in at least four of the last five years (life-health)
- Compound annual growth in premiums between -10% and +40%
Companies that pass the safety and consistency tests are measured and scored on the following elements:
- Five Year Average Return on Average Equity
- Five Year Average Return on Average Assets
- Five Year Average Return on Total Revenue
- Five Year Growth in Revenue
- Five Year Improvement in Surplus to Written Premium (property-casualty)
- Five Year Average Combined Ratio (property-casualty)
- Five Year Growth in Surplus (life-health)
For a complete list of the 2011 Ward’s 50 companies, visit www.wardinc.com. Comparisons based on benchmarks set by Ward’s 50® companies are available in Ward’s Results®, an insurance industry financial reference series. Customized reports of select Ward’s 50 Benchmark Group comparisons for individual companies can also be ordered at www.wardinc.com.
Visit the Jewelers Mutual website at www.JewelersMutual.com.
|< Prev||Next >|