November 9, 2009
Western National Insurance Group Announces Third Quarter Results
Western National Insurance Group today announced its financial results for 2009 through September 30. Significant comparative measures include:
- Total Assets of $556.4 million, up $22.9 million from 12/31/08
- Combined Ratio of 94.4% (versus 95.8% at 9/30/08)
- Net Income After Tax of $15.3 million (versus $14.7 million at 9/30/08)
- Policyholder Surplus of $226.3 million, up $14.7 million from 12/31/08
“We are pleased to once again report growth in the financial resources available to protect our policyholders,” said Stuart Henderson, president and chief executive officer. “Our quality underwriting and customer service efforts, along with the efforts of our talented independent agency partners, continue to guide our company through an otherwise difficult market. We look forward to building on these positive results as we move through the final quarter of 2009 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 nine states. The group consists of three active companies (Western National Mutual Insurance Company, Western National Assurance Company, and Pioneer Specialty Insurance Company) serving personal and commercial customers in Minnesota, Nevada, Oregon, South Dakota, Utah, Washington, and Wisconsin, as well as commercial customers in Iowa 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