2009 Financial Results

Click here to download the full 2009 Financial Report.

Balance Sheet 


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With $198 million in surplus, MMIC Insurance, Inc. continues to build financial strength and stability for the protection of our policyholders over the long term. This strong surplus position will help supplement MMIC Insurance, Inc. when growth opportunity arises.

 



Total Assets 


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With over $483 million in total assets, MMIC Insurance, Inc. continues to build financial strength and stability for the protection of our policyholders over the long term.

 


Invested Assets 


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With invested assets that grew 20% over 5 years to $458 million, MMIC Insurance, Inc. provides a stable foundation for its policyholders. With 47% of our invested assets in tax-exempt bonds, MMIC Insurance., Inc. receives tax equivalent yields greater than taxable bonds with the stability of a municipal portfolio. Continued positive cash flow from operations allows MMIC Insurance, Inc. to opportunistically invest in the financial markets while maintaining a well structured and diversified investment portfolio.

 


Policyholders' Surplus 


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A fundamental component of an insurer’s financial strength is surplus. The surplus for MMIC Insurance, Inc., Inc. has grown by $60 million or 44% since December 31, 2005.

 




Income Statement 


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With over $18 million in net income for 2009, MMIC Insurance, Inc. continues to establish a solid financial position and will work to maintain that strength in 2010. Net income helps build policyholders’ surplus, an important component in overall financial health.

Because of our financial success, MMIC Insurance, Inc. will return $6 million in dividends to policyholders’ in 2010. MMIC Insurance, Inc. has given back more than $88 million to its policyholders’ since its inception in 1980.



Direct Premium Written


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Despite a highly competitive marketplace, MMIC Insurance, Inc. continues to be one of the leading providers of medical professional liability insurance in the Upper Midwest.

 



Combined Ratio 


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The statutory combined ratio is a comparison of losses and expenses to premiums. Including policyholder dividends, the combined ratio for MMIC Insurance, Inc. was 84.3% for 2009. This outstanding result indicates healthy underwriting performance for a physician-owned medical professional liability insurer.