Through June 30, 2019, written premium for our Group (not including affiliate Michigan Millers) is at $371 million—which is about where we aimed to be for the first half of the year. Our loss ratio is 55.3% (vs. goal of 56.3%), our loss adjustment expense ratio is 10.4% (vs. goal of 10.2%), and our underwriting expense ratio is 28.0% (vs. goal of 28.3%)—adding up to a combined ratio of 93.7%. Looking beyond Q2, we’ve seen some loss activity over the past couple of months due to an active catastrophe storm season. Overall, we’re headed in the right direction on the numbers front, but there’s still plenty to be done to meet our premium goals in the second half of the year.
I’m pleased to share that our Group has once again been named to the Ward’s 50 Benchmark Group of top performing U.S. property-and-casualty companies. Being named to
this group recognizes Western National for achieving outstanding financial results in the areas of safety, consistency, and performance over a five-year period (2014-2018). This is the 14th time in the past 15 years (and the 11th consecutive year) that we have been named to this list of top performers. Thank you for your support in helping us achieve this recognition – it wouldn’t be possible without the hard work of agency partners like you. We look forward to building on this financial foundation for the continued protection of our mutual policyholders in the years to come.
Our primary focus in 2019 continues to be providing a uniquely exceptional experience for our customers. One of the ways we’re supporting this strategy is by enhancing our technology. We recently released a redesigned homepage for AgentsOnline, which was based on agent feedback and designed to make the portal easier to navigate. We’ve also been developing commercial lines download—an automated process that allows Western National’s policy information to download directly into your agency’s agency management system. More details on download and additional updates to AgentsOnline in the weeks ahead—stay tuned! In addition, we’re about to embark on a “once in a decade” total policy and billing overhaul. While you will not see the fruits of that multi-year effort for some time, in the longer term, you should expect to see an entirely new and modern policy system—i.e., an updated application, quoting, issuing, endorsement, renewal, and billing system!
A “Hands-Free Driving” law went into effect in the state of Minnesota on August 1, 2019. Minnesota joins 18 states and Washington D.C. with a hand-held cellphone ban while driving. As insurance professionals, we have the ability to help raise distracted driving awareness by supporting public safety campaigns and promoting safe driving. If you’re looking for content to share, we have a number of distracted driving resources on our Blog that you republish.
I’m pleased to report that Western National recently earned gold-level recognition as part of the City of Edina’s Green Business Recognition Program. As many of you know, we moved our Minnesota office to a new location in October 2017. When we moved, we took the opportunity to implement some green business practices at the new building, including solar panels and environmentally friendly recycling and purchasing practices.
