NEWS ARTICLE
March 4, 2020
Western National Insurance Group Announces Year-End 2019 Results
(Minneapolis, Minn.) Western National Insurance Group today announced full-year financial results through December 31, 2019. Significant comparative financial measures include:
- Total Assets grew from $1.32 billion to $1.45 billion, an increase of $132.4 million (10.0%) compared to 12/31/18
- Direct Premium Written totaled $717.3 million, an increase of $52.1 million (7.8%) over 2018
- The Combined Ratio (without dividends) totaled 95.7%, compared to 94.6% in 2018
- Net Income After Tax totaled $49.5 million, compared to $41.1 million in 2018
- Surplus increased from $492.0 million to $548.9 million, an increase of $56.9 million (11.6%) compared to 12/31/18
These figures reflect the combined performance of all group companies, including Western National Mutual Insurance Company and its subsidiaries: American Freedom Insurance Company, Arizona Automobile Insurance Company, Nevada General Insurance Company, Pioneer Specialty Insurance Company, Umialik Insurance Company, Western National Assurance Company, and Western Home Insurance Company. These numbers do not include results from affiliates. With affiliate results, the Group’s year-end results include Total Assets of $1.67 billion, Surplus of $626.1 million, and Direct Written Premium of $814.4 million.
“Thanks to a solid, long-term business plan and the continued hard work of our employees and agency partners—and despite the more-significant-than-usual weather loss activity in the Midwest—we’re pleased to report another good year of financial performance for the Western National Insurance Group,” said Stuart Henderson, President and Chief Executive Officer. “The results of 2019 have added capital to our Group’s already strong foundation of financial security. We look forward to building on these results in 2020 and beyond for the continued protection of our policyholders.”
Western National Insurance, headquartered in Edina, Minn., is a super-regional group of property-and-casualty insurance companies providing personal and commercial coverage in 20 states across the Midwestern and Western U.S. as well as in Alaska; and surety bonds in 32 states. The Group writes over $717 million in Direct Premium through eight active insurance companies—Western National Mutual Insurance Company, Western National Assurance Company, Pioneer Specialty Insurance Company, Western Home Insurance Company, Arizona Auto Insurance Company, Umialik Insurance Company, American Freedom Insurance Company, and Nevada General Insurance Company—and through one affiliate, Michigan Millers Mutual Insurance Company. All of the Group’s products are sold exclusively through professional Independent Insurance Agents.
For further information, please contact:
Steve Norman, CPCU, M.A., AIT
Vice President - Communications & Customer Experience
(952) 921-3820 or (800) 862-6070 (Ext. 7680)
steven.norman@wnins.com
