NEWS ARTICLE
March 9, 2010
Western National Insurance Group Announces Year-End 2009 Results
Western National Insurance Group today announced full year financial results through December 31, 2009. Significant comparative financial measures include:
- Total Assets grew from $533.5 million to $569.8 million ($36.3 million, or 6.8 percent)
- Net Income After Tax totaled $20.4 million, compared to $12.3 million in 2008
- The Combined Ratio was 94.2 percent, compared to 96.7 percent in 2008
- Surplus increased from $210.5 million to $235.1 million ($24.6 million, or 11.6 percent)
“We’re pleased to report yet another year of excellent growth in the funds available to protect Western National’s policyholders,” said Stuart Henderson, president & chief executive officer. “To produce positive results like these in the face of the persistent economic and soft-market challenges is a credit to the quality of our business plan and to the hard work of our dedicated employees and business partners. We look forward to building on these successes as we work to enhance policyholder protection throughout 2010 and beyond.”
Western National Insurance Group, headquartered in Edina, Minn., is a super-regional property-and-casualty insurance group writing over $240 million in Direct Premium in ten states. The group consists of four active companies (Western National Mutual Insurance Company, Western National Assurance Company, Pioneer Specialty Insurance Company, and Titan Property & Casualty Insurance Company) serving personal and commercial customers in Minnesota, Nevada, Oregon, South Dakota, Utah, Washington, and Wisconsin, as well as commercial customers in Iowa, Illinois, and North Dakota. All of the group’s products are sold exclusively through professional independent agents.
For further information, please contact:
Mary S. Manley
SVP Corporate Affairs & Administration
952-921-3820
mary.manley@wnins.com
