The Maine Employers’ Mutual Insurance Co., or MEMIC, saw its direct written premium grow 16.3% in 2015, reaching $309 million, according to the company’s annual report.
The number of policyholders reached 20,598 in 2015, up from 20,408 the previous year.
The company’s 2015 dividend of $19.2 million was an increase from $18.4 million in 2014.
MEMIC ended the year with a $393 million surplus, from $1.13 billion in total assets less $737 million in liabilities.
Net combined ratio before dividends was 98.34%, up from 97.09% in 2014.
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