April 24, 2019
Umialik, Western National Insurance Group Achieve $500 Million Policyholder Surplus Milestone, Announce First Quarter Results
(Anchorage, Alaska) Umialik Insurance Company and the Western National Insurance Group today announced financial results through March 31, 2019, including the significant milestone of reaching $500 million in Policyholder Surplus. Noteworthy financial measures include:
Total Assets of $1.3 billion
Direct Written Premium of $180.8 million
Combined ratio of 94.7%
Surplus of $506.6 million
These figures reflect the combined performance of all Group companies, including Western National Mutual Insurance Company and its subsidiaries: American Freedom Insurance Company, Arizona Automobile Insurance Company, Nevada General Insurance Company, Pioneer Specialty Insurance Company, Umialik Insurance Company, Western National Assurance Company, and Western Home Insurance Company. These numbers do not include results from affiliates.
“We’re pleased to report a successful first quarter for the Western National Insurance Group, which included surpassing the $500 million Policyholder Surplus milestone,” said Stuart Henderson, President and Chief Executive Officer. “Thanks to a solid business plan, the hard work of our employees, and strong relationships with our agency partners, we were able to achieve a new level of financial strength and security for our Group and its policyholders. We look forward to building on these successes in the months and years ahead.”
Umialik Insurance Company, headquartered in Anchorage, Alaska, has served the property-and-casualty insurance needs of Alaskans since 1981. Umialik is a member of Western National Insurance, a super-regional group of property-and-casualty insurance companies providing personal and commercial coverage in 20 states across the Midwestern and Western U.S. as well as in Alaska; and surety bonds in 32 states. The Group writes over $660 million in Direct Premium through eight active insurance companies—Western National Mutual Insurance Company, Western National Assurance Company, Pioneer Specialty Insurance Company, Western Home Insurance Company, Arizona Auto Insurance Company, Umialik Insurance Company, American Freedom Insurance Company, and Nevada General Insurance Company—and through one affiliate, Michigan Millers Mutual Insurance Company. All of the Group’s products are sold exclusively through professional Independent Insurance Agents.
For further information, please contact:
Steve Norman, CPCU, M.A., AIT
Vice President – Communications & Customer Experience
(952) 921-5680 or (800) 862-6070 Ext. 7680