Annual Report Highlights Strong Results and Key Partnerships
May 09, 2024
In its Annual Report to Policyholders, A.I.M. Mutual called 2023 a year of stability, highlighting a strong balance sheet with new business written totaling $17.6 million. The company credits its team members, broker partnerships, and service commitment with its continued success.2023 results included earned premium of $156.4 million, an increase of more than 6%, resulting in an underwriting gain of $8.5 million. In addition, the company’s combined ratio was 94.4% with $28.0 million added to surplus. A.I.M. Mutual maintained its A (Excellent) rating with a stable outlook from AM Best
The company achieved these excellent results despite double digit rate reductions and heavy competition in the New England marketplace. It further affirmed a commitment to providing the best care and services to policyholders and their employees.
In closing out its message to policyholders, A.I.M. Mutual recognized and thanked Bill Blanker, a longstanding member of the Board of Directors who retired in 2023. Bill is now Board Member Emeritus.