To our fellow policyholders:
2019 was another good year for the Exchange:
- Underwriting profit increased 2% to $404 thousand.
- Investment income increased 20% to $213 thousand.
- Policyholder surplus increased 9% to $6.649 million.
Those numbers benefited from favorable reinsurance collections on claims from the 1980’s. (It’s important to have strong reinsurers – and good records!)
2020 looks like a tough year for all of us. Our entire economy is in chaos. It’s hard to know when things will return to normal. We know it won’t be practical for most policyholders to attend our annual meeting. Still, we seek your input.
We appreciate your business. We’re determined to offer the best possible combination of coverage, expertise, service, and price.