(NEENAH, Wis.) – Jewelers Mutual Insurance Company has been named to the 2015 list of Ward’s 50® top performing insurance companies for the fifth consecutive year. The award recognizes outstanding financial results in the areas of safety, consistency and performance over a five year period from 2010-2014.
“Ward’s 50 is an incredible industry benchmark, and it’s a tremendous achievement for Jewelers Mutual to be named to this highly competitive list for five consecutive years,” said President and CEO Scott Murphy.
The list of Ward’s 50® top performing insurance companies was released in July by Ward Group, an Aon Hewitt company and the leading provider of operational and compensation benchmarking and best practices services for insurance companies.
To develop its annual list of the top 50 performing insurance companies, Ward Group analyzes the financial performance of nearly 3,000 property-casualty insurance companies and 800 life-health insurance companies domiciled in the United States and identifies the top performers in each segment based on objective data and subjective quality measures. Each company has passed all safety and consistency screens and achieved superior performance over the five years analyzed. This is the 25th consecutive year Ward Group has conducted the analysis.
The Ward’s 50 property-casualty group of insurance companies produced a 10.9% statutory return on average equity from 2010 to 2014 compared to 7.8% for the property-casualty industry overall.
Safety and Consistency Tests
Property-casualty 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
- Compound annual growth in premiums between -10% and +40%
Performance Measurements
Companies that pass the safety and consistency tests are measured and scored on the following elements:
- 5-Year Average Return on Average Equity
- 5-Year Average Return on Average Assets
- 5-Year Average Return on Total Revenue
- 5-Year Growth in Revenue
- 5-Year Improvement in Surplus to Written Premium
- 5-Year Average Combined Ratio
An important objective of the Ward’s 50 is to compare their performance as a group with the rest of the industry. In addition to achieving greater levels of income returns, the Ward’s 50 benchmarks also outperformed in other key performance benchmarks. The Ward’s 50 property-casualty group compared 6.8 points lower for the five-year combined ratio (94.5% compared to 101.3%) and grew policyholder surplus by 30.2% compared to 21.9% for the industry since 2010. Net premiums written for the Ward’s 50 property-casualty group grew 28.5% compared to the industry’s 18.4% growth. A complete list of the 2015 Ward’s 50 companies for property-casualty are located at WardInc.com.
Learn more about Jewelers Mutual at JewelersMutual.com.
