To our fellow policyholders:
2018 was good to the Exchange:
- Premium written increased 5%.
- Claims and underwriting expenses decreased 21%.
- Net income after taxes was $426 thousand.
- Policyholder surplus increased to $6.1 million.
Those numbers would have been even better except for $184 thousand incurred on old
pollution claims, $109 thousand incurred on Hurricane Florence in North Carolina and
$113 thousand incurred on Hurricane Michael in Florida.
Non-financial accomplishments in 2018 include the release of a new, secure web site
(www.NIEinsurance.com), and the release of a helpful video on YouTube (The Best
Approach to Insuring Customer Garments: https://youtu.be/saNfAofB6Dk).
The 2019 annual meeting will be 9 am Wednesday, June 19 (the day before the Clean Show)
at the Royal Sonesta Hotel in New Orleans. I encourage you to attend our annual meeting
and/or visit us at the Clean Show (booth #4514). If you can’t attend our annual meeting,
please send us your proxy card.
We appreciate your business. We’re determined to offer the best possible combination of
coverage, expertise, service, and price.
