Jewelers Mutual makes list of top insurance companies

by eyetee | August 12, 2011 2:14 pm

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Jewelers Mutual Insurance Co. has been named one of the 50 top-performing insurance companies.

For the third time in its history, Jewelers Mutual appears on the ‘Ward’s 50,’ a list compiled by Ohio-based Ward Group, a benchmarking and best practices firm.

Every year, it analyzes the financial performance of more than 3000 property-casualty insurance companies in the United States to determine the top performers. Nearly 800 life-health insurers are also evaluated.

“This is a tremendous honour and all of us at Jewelers Mutual are very proud,” said company president and chief executive officer (CEO) Darwin Copeman. “Our employees deserve to be recognized for their efforts and being named to Ward’s 50 certainly does that. To be among this elite group of insurers only further reinforces Jewelers Mutual as the leader in jewellery insurance.”

To qualify for consideration, each company must pass minimum thresholds that evaluate:
• surplus and premiums of at least $50 million for each of the five years analyzed;
• net income in at least four of the last five years (for property-casualty candidates);
• adjusted net income in at least four of the last five years (for life-health candidates); and
• compound annual growth in premiums between -10 per cent and +40 per cent.

Those that pass these minimum standards are then scored on several other elements, such as five-year average return on average equity; five-year average return on average assets; and five-year growth in revenue.

Source URL: https://www.jewellerybusiness.com/news/jewelers-mutual-makes-list-of-top-insurance-companies/

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