March 18, 2013
Western National Insurance Group Announces Year-End 2012 Results
(Minneapolis, Minn.) Western National Insurance Group today announced full-year financial results through December 31, 2012. Significant comparative financial measures include:
- Total Assets grew from $689.7 million to $774.6 million ($84.9 million, or 12.3% growth compared to 12/31/11)
- Direct Premium Written totaled $365.9 million, an increase of $51.6 million (16.4%) over 2011
- The Combined Ratio improved to 97.3%, compared to 100.6% in 2011
- Net Income After Tax totaled $18.7 million, compared to $16.2 million in 2011
- Surplus increased from $269.5 million to $292.4 million ($22.9 million, or 8.4% growth compared to 12/31/11)
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, Pioneer Specialty Insurance Company, Umialik Insurance Company, Western National Assurance Company, and Western Home Insurance Company.
“Thanks to the proper execution of a quality long-term plan, and to the commitment of our staff and agency partners to continually enhancing our customer service, we are very pleased to be able to report growth in the funds available to protect our policyholders,” said Stuart Henderson, president & chief executive officer. “We look forward to building on these successes as we work to enhance policyholder protection throughout 2013 and beyond.”
Western National Insurance Group, headquartered in Edina, Minn., is a super-regional group of seven active property-and-casualty insurance companies serving individuals, families, and businesses in 17 states in the Midwestern, Northwestern, and Southwestern U.S. The group distributes its products exclusively through independent insurance agents.
For further information, please contact:
Steve Norman, AIT*
Director of Communications
(952) 921–5680 or (800) 862–6070 Ext. 7680
* Associate in Information Technology (AICPCU-IIA)