MEMIC Sees Increases in Written Premiums and Assets, Financial Audits Say

Total premiums earned and surplus for the Maine Employers' Mutual Insurance Co. and its subsidiaries MEMIC Indemnity and MEMIC Casualty have risen significantly since 2013, according to annual financial audits released in conjunction with the carrier's annual report this week. Total premiums earned for MEMIC increased by more than $10 million to $139.4 million in 2014, an 8% increase from the year prior. The audit also showed that total liabilities for MEMIC increased by almost $12 million, to $436.6 million, with capital surplus for the group at $393.9 million, a 6% increas...