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HEMIC's Investment Income Makes Up for Underwriting Loss

Tuesday, November 14, 2017 | 417 | 0 | 0 min read

Hawaii Employers’ Mutual Insurance Co., or HEMIC, reported a net income of $10.2 million in 2016, of which $3 million was returned to policyholders in the form of dividends. HEMIC’s net premiums earned totaled $69.8 million in 2016, according to an annual report posted to the company’s website. HEMIC experienced a net underwriting loss of $209,000. But investment income of $10.7 million produced a net profit for the company. HEMIC had total admitted assets of $381 million in 2016 and a policyholder surplus of $229 million. Company highlights for the year include the implem...

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