Montana State Fund increased its surplus by more than $38 million while charging the lowest rates since it was created 30 years ago and declaring a $30 million dividend, according to the carrier’s 2019 annual report.
Montana State Fund reported that net premium earned declined to $156.9 million in 2019 from $161.3 million the year before. Incurred losses decreased to $110.7 million from $117.1 million, while incurred underwriting expenses also decreased to $37.9 million from $52.1 million. Incurred loss expenses increased to $25.9 million from $21.4 million.
The carrier also reported t...
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