NEWS ARTICLE
April 20, 2009
Western National Insurance Group Announces First Quarter 2009 Results
Western National Insurance Group today announced financial results for 2009 through March 31. Significant comparative measures include:
- Total Assets of $543.7 million, up $10.2 million from 12/31/08
- Combined Ratio of 90.4% (versus 88.0% at 3/31/08)
- Net Income After Tax of $6.9 million, up $0.1 million from 3/31/08
- Policyholder Surplus of $214.5 million, up $2.9 million from 12/31/08
“Western National’s ability to achieve positive results in the face of challenging market conditions remains a hallmark of this company,” said Stuart Henderson, president & chief executive officer. “The same expert underwriting and independent agency talent that produced these results continue to help us attain our most important goal—bolstering the financial protection and services we provide to our policyholders and agency partners. We look forward to utilizing these resources to build on that success as we move through 2009 and beyond.”
Western National Insurance Group is a super-regional insurance group writing over $245 million in Direct Premium in nine states. The group consists of three regional Property and Casualty Insurance companies with shared administrative offices in Edina, MN and a local underwriting and claim office in Seattle, WA. Western National Mutual Insurance Company writes personal lines in MN, SD and WI, and commercial lines in IA, MN, ND, SD and WI; Western National Assurance Company writes personal lines in NV, OR, UT and WA, and commercial lines in MN, NV, OR, SD, UT, and WA; and Pioneer Specialty Insurance Company writes niche commercial lines in all nine states. All of the companies' 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
