Church Mutual Posts Policyholders' Surplus of $663.8M in 2016

Church Mutual Insurance Co., a Wisconsin-based carrier that insures religious organizations, posted its highest-ever policyholders' surplus in 2016, the carrier announced Wednesday. Church Mutual ended 2016 with a policyholders' surplus of $663.8 million, up 13.5% from last year. The company ended the year with more than $1.6 billion in assets, direct written premium of $686.3 million and a net income of $49.4 million. It expanded into the public-school market last year with the acquisition of School Boards Insurance Co. of Pennsylvania Inc. and School Claims Services. They are now ...