NEWS ARTICLE

---

March 15, 2022

Western National Insurance Group Announces Year-End 2021 Results

(Minneapolis, Minn.) Western National Insurance Group today announced full-year financial results through December 31, 2021. Significant comparative financial measures include:

• Total Assets grew from $1.59 billion to $1.77 billion, an increase of $171.7 million (10.7%) compared to 12/31/20
• Direct Premium Written totaled $785.5 million, an increase of $52.2 million (7.1%) over 2020
• Net Income After Tax totaled $97.9 million, compared to $57.2 million in 2020
• Surplus increased from $611.0 million to $728.5 million, an increase of $117.5 million (19.2%) compared to 12/31/20

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 (of which the sale to Alfa Insurance closed on March 1, 2022), Nevada General Insurance Company, Pioneer Specialty Insurance Company, Umialik Insurance Company, and Western National Assurance Company. These numbers do not include results from affiliates. With affiliate results, the Group’s year-end results include Total Assets of $2.04 billion, Surplus of $826.5 million, and Direct Written Premium of $908.2 million.

“These outstanding year-end numbers for 2021 are the result of the continued hard work of our employees and agency partners over the past year,” said Richard Long, President and CEO of Western National Insurance Group. “The continuing pandemic presented some unique challenges, but our employees did an excellent job adapting in order to best serve our policyholders, and it shows in the results. These results add to our Group’s strong foundation of financial security, and we look forward to building on them in 2022 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. The Group writes business through five active insurance companies—Western National Mutual Insurance Company, Western National Assurance Company, Pioneer Specialty Insurance Company, Umialik Insurance Company, and American Freedom Insurance Company — and is affiliated with Michigan Millers Mutual Insurance Company. Together, the affiliated Group writes over $800 million in personal and commercial direct premium in 19 states across the Northern, Midwestern, and Western U.S. as well as in Alaska; and surety bonds in 41 states. All of the companies’ products are sold exclusively through professional Independent Insurance Agents.

For further information, please contact:

Steve Norman, CPCU, M.A., AIT
Senior Vice President - Communications & Customer Experience
Western National Insurance Group
(952) 921-3820 or (800) 862-6070 (Ext. 7680)
steven.norman@wnins.com