Annual Reports
Every year, MEMIC provides an annual report of its financials to our policyholders and general public.
2022 Financial Highlights (in thousands of dollars)
| 2022 | 2021 | |
| Assets | ||
| Invested | $1,466,444 |
$1,453,844 |
| Other | $178,160 |
$171,399 |
| TOTAL ASSETS | $1,644,604 |
$1,625,243 |
| Liabilities | ||
| Loss and LAE Reserves | $793,274 |
$819,903 |
| Other | $327,474 |
$278,432 |
| TOTAL LIABILITIES | $1,120,748 |
$1,098,335 |
| . | ||
| Policyholders’ Surplus | $523,856 |
$526,908 |
| . | ||
| Key Statistics | ||
| Dividend | $24,281 |
$28,004 |
| Direct Written Premium# | $401,492 |
$389,082 |
| Premium-to-Surplus Ratio, Direct | .77:1 |
.74:1 |
| Premium-to-Surplus Ratio, Net | .77:1 |
.68:1 |
| Number of Policyholders | 20,786 |
21,031 |
| Direct Combined Ratio Before Dividends | 94.99% |
100.65% |
| Net Operating Ratio | 93.73% |
83.11% |
| Change in Asset Base Year over Year | $19,361 |
$84,786 |