proven success

My job is to help MEMIC build agency partnerships in the Western New York area. There's a lot of potential here as we continue to prove to agents that we provide incomparable loss control and claim service. I love doing what I do and the results have been tremendous. In my territory, I started from zero dollars. Now, we're at $18 million. It's a tribute to the agencies that want to sell value-added services to their policyholders, because that's the value of MEMIC.
Tom Green, Senior Underwriter

Proven Success
in Consistent and Responsible Growth

Record premiums, assets & Surplus–2012

  • Direct written premium: $202 million
  • Assets: $899 million, Policyholder surplus:
    $342 million
  • 13% overall growth removed in 2012
  • Combined ratio: 96.3% (after dividend)
back arrow

National Presence

  • Licensed in all states, plus D.C.
  • Active policies in 45 states
  • Offices in 7 states; including New Jersey and Pennsylvania (open in 2012) and Florida (2013)
back arrow

Strong reputation

  • A.M. Best rated A "Excellent"
  • 10 states with more than $1 million in premium in 2012
1 2 3 4
more proven success
  • Tom Green 1
  • Tom Green 2
  • Tom Green 3
My mission is to develop ways to reduce injuries and keep employees safe at work. We're so successful here because we work with our customers, face-to-face to get them invested in the process. I listen. I discover what their problems are so that we can develop a service and action plan. And I stay with them until they get control over their exposures. I have a passion for helping employers make sure their employees go home safe.
John Dodge, Director Loss/Control Region 2

Proven Success
in Safety Services

Hands-on safety experts

  • 24 industry-certified safety professionals on staff
  • Develop action plans to improve safe work practices for individual policyholders
  • Conducted 6,780 jobsite visits in 2012
back arrow

Signature Safety education

  • Experiential workshops, free for policyholders
  • Accredited by the International Association for Continuing Education & Training for CEUs
  • In 2012, held 538 workshops, covering 425 topics, attended by 3,449 people
back arrow

Practical technology

  • Many workshops offered as webinars with online archive
  • Safety Director, MEMIC's advanced web-based tool gives policyholders access to the same assessment tools used by our consultants and hundreds of safety resources
1 2 3 4
more proven success
  • John Dodge 1
  • John Dodge 2
  • John Dodge 3
I spend most days working with injured workers to help them get the medical care needed for a successful recovery. MEMIC is successful because of our team approach. We have the staff expertise to work with every person involved in a claim to help the injured worker— and the employer. I love that MEMIC sees the value in my experience as cardiac nurse, an operating room nurse and a rehabilitation nurse and how that background helps me set goals for injured workers.
Nancy Craven, Disability Management Consultant

Proven Success
in Comprehensive Claim Service

compassion for injured workers

  • Start-to-finish dedicated claim management
  • In-house claims specialists at all levels of claim process, employ a team approach
  • Industry-leading on time payments – 96%
back arrow

cost-saving programs—2012

  • Prescription drug program: $3.5 million
  • Medical bill review: $29.1 million
  • Physical therapy: $531,004, Utilization review: $333,858
  • Fraud and abuse detection/prevention: $2.3 million
back arrow

focus on Return-to-work

  • 15 licensed disability consultants on staff
  • Returned 907 injured workers to jobs in 2012
1 2 3 4
more proven success
  • Nancy Craven 1
  • Nancy Craven 2
  • Nancy Craven 3

president's message

John T. Leonard, President and CEO of MEMIC John T. Leonard
President and
Chief Executive Officer

Dear Policyholders,

History will mark 2012 as one of the best years that MEMIC has ever experienced. We maintained our primary mission of outstanding service to our customers and their employees, while continuing to run a strong internal operation which contributes to the financial strength of the company. The year also marked premium growth and geographical expansion that now moves MEMIC into the category of a "super regional" insurer, and one to be proud of!

Let's look at some of the metrics that illustrate this success:
  • Direct written premium surpassed $200 million for the first time in our history.
  • Premium outside of Maine grew by more than 30% with business written in 45 states.
  • A $56 million increase in our asset base brought us to the $900 million threshold.
  • New offices opened in New Jersey and Pennsylvania, while finishing touches were applied to Florida in 2013.
  • For our mutual customers, a hefty dividend was declared amounting to more than 10% of premium.
While I could go on, I don't want to lose sight of the tremendous contribution from you—our policyholders and your employees. Your continued commitment to a safe workplace is evidenced by the decline in on-the-job injuries recorded again this past year. Without your involvement in this effort, none of these achievements would have been possible. Truly, this is a productive partnership that we have created and the success is evident in so many ways.

So, 2012 is now part of our history and we look forward to the challenges which lie ahead. This is the culture we have built at MEMIC: "How can we do better?" Whether it means helping a customer improve their workplace, encouraging and enabling an injured worker to return to work, or working with an independent insurance agent to match our skills with their customers' needs, we are ready. As you'll see in the following pages, our employees simply love what they do and enjoy a tremendous level of satisfaction in a job well done. They love success and I love their commitment!

Thank you for the trust and confidence you have placed in this company. Again, without you, none of this success would be possible. I know that I speak for our Board of Directors as well as my fellow employees when I tell you that we will never let you down. We will continue to honor this commitment and deliver on this promise. Yes, the future has challenges but it also provides an opportunity for us to build upon the culture that has strengthened over the past 20 years. We're proud of our 2012 accomplishments but we know we still can do better. Working together guarantees an even brighter tomorrow.

Thank you.


Financial Highlights Summary

Click to download complete audited statements:

MEMIC Indemnity Company
MEMIC Casuality Company
Financial Highlights 2012



Management Team

John T. Leonard
President and
Chief Executive Officer

Gary R. Baxter
Senior Vice President and
Chief Information Officer

Michael P. Bourque
Senior Vice President,
External Affairs

Donald V. Hale
Senior Vice President, Underwriting and
Chief Operating Officer,
MEMIC Indemnity Company
Catherine F. Lamson
Senior Vice President and
Chief Administrative Officer

John F. Marr
Senior Vice President,

Daniel J. McGarvey
Senior Vice President and
Chief Financial Officer
MEMIC leadership, 2012

Board of Directors

Standing (left to right):
Katherine M. Greenleaf
David M. Labbe
John T. Leonard
M. Jane Sheehan (Chair)
Robert D. Umphrey, Jr.
S. Catherine Longley

Seated (left to right):
Ward I. Graffam
Jolan F. Ippolito
Lance A. Smith


Contact MEMIC

Corporate Headquarters

261 Commercial Street
Portland, Maine 04101
Manhattan skyline view from Weehawken, New Jersey office. Manhattan skyline view from Weehawken, New Jersey office.   

Office Locations

Glastonbury, Connecticut
Tampa, Florida
Manchester, New Hampshire
Weehawken, New Jersey
Albany, New York West Conshohocken, Pennsylvania
Please rotate your tablet to view in landscape orientation. Thanks!