From State Fund, MEMIC Rises to 'Super Regional' Insurer

By David Dankwa, Senior ReporterJohn Leonard, the president and chief executive officer of Maine Employers Mutual Insurance Co., said history will mark 2012 as one of the best years the insurance company has ever experienced. The carrier's recently-released annual results support Leonard’s view. In 2012, MEMIC reported direct written premiums of $202 million – the highest in the company’s history. Combined ratio, after dividend amounting to more than 10% of premium, was 96.3%.In addition, the company opened new offices in New Jersey and Pennsylvania, which added to the mo...