2021 Annual Report
Every year, MEMIC provides an annual report of its financials to our policyholders and general public.
2021 Financial Highlights (in thousands of dollars)
| 2021 | 2020 | |
| Assets | ||
| Invested | $1,453,844 | $1,359,592 |
| Other | $171,399 | $180,865 |
| TOTAL ASSETS | $1,625,243 | $1,540,457 |
| Liabilities | ||
| Loss and LAE Reserves | $819,903 | $789,115 |
| Other | $278,432 | $263,597 |
| TOTAL LIABILITIES | $1,098,335 | $1,052,712 |
| . | ||
| Policyholders’ Surplus | $526,908 | $487,745 |
| . | ||
| Key Statistics | ||
| Dividend | $28,004 | $27,937 |
| Direct Written Premium# | $389,082 | $398,084 |
| Premium-to-Surplus Ratio, Direct | .74:1 |
.82:1 |
| Premium-to-Surplus Ratio, Net | .68:1 |
.72:1 |
| Number of Policyholders | 21,031 |
20,974 |
| Direct Combined Ratio Before Dividends | 100.65% |
102.18% |
| Net Operating Ratio | 83.11% |
97.10% |
| Change in Asset Base Year over Year | $84,786 | $75,143 |