Vermont Mutual Insurance Group Holds Its 195th Annual Meeting
MONTPELIER, Vermont (April 21, 2022)— On April 20, 2022, Vermont Mutual Insurance Group® held its 195th Annual Meeting of policyholders and Directors, reporting on Company results for 2021.
Over the course of 2021, Vermont Mutual Insurance Group reached several historic milestones, increasing its written premium by 5.9% to $577 million and growing policyholders’ surplus by more than 13% to a record $743 million.
President, CEO and Board Chairman of Vermont Mutual, Dan Bridge, stated “As the disruptions of the COVID pandemic continued into 2021, we were fortunate to leverage many important lessons gained from successfully managing the numerous challenges of 2020 to achieve very favorable financial and business results in 2021.” Bridge continued “2021 proved to be another profitable year for Vermont Mutual. We achieved a combined ratio of 91.4% and solid policyholder retention of 88.7%. In addition, the strong relationships we enjoy with our independent agency partners allowed us to produce a record $74 million in new business premium."
Mark McDonnell, Vermont Mutual’s Executive Vice President and COO, noted “Exceptional financial results notwithstanding, in 2021 we also modernized systems and processes via our Summit project and other initiatives. We also focused attention on core company values, highlighting equity, inclusion and increased diversity throughout the Company."
The following officers have been elected by the Vermont Mutual Board of Directors:
Daniel C. Bridge, President & Chief Executive Officer
Mark J. McDonnell, Executive Vice President & Chief Operating Officer
Jonathan R. Becker, Vice President - Underwriting
William J. Cahill, Vice President - General Counsel and Secretary
Susan L. Chicoine, Vice President- Human Resources
Sarah B. Young, Assistant Vice President – Human Resources
David N. DeLuca, Vice President – Claims
Shaun P.T. Farley, Vice President – Marketing
Brody N. Gilbert, Vice President – Chief Financial Officer and Treasurer
Additionally, Brody Gilbert was promoted to the position of Chief Financial Officer. Dan Bridge remarked “Having successfully transitioned through the retirement of former CFO Brian Eagan, and leading a number of key initiatives for our company, it is my great pleasure to congratulate Brody on his well-deserved promotion.”
Vermont Mutual Sponsors National Girls and Women in Sports Day
Vermont Mutual Insurance Group®,, one of the oldest and most successful property and casualty insurers in the Northeast, has partnered with University of Vermont Athletics in a multi-year sponsorship of National Girls and Women in Sports Day.
Recognizing the importance that athletics can have in both the personal and professional development of students and youth, the initiative is designed to recognize the accomplishments and contributions of female athletes, enhance the influence of women and girls in the sports world, and promote the continued growth of women in all aspects of sports. In addition, the UVM and Vermont Mutual initiative will provide promotional opportunities to further expose young females to sports at UVM and encourage fans to show-up to support the female student-athletes
To acknowledge the accomplishments of female student-athletes, UVM and Vermont Mutual will host a celebration at the women’s basketball game on Feb. 5, 2022 when the Catamounts play host to UMass Lowell at 2 p.m.
Dan Bridge, Vermont Mutual’s President and CEO, remarked “Vermont Mutual is very proud to continue our partnership with the University and to support National Girls and Women in Sports Day. We'd also like to congratulate the female student-athletes at UVM in their commitment to the University and their responsibility as role models for today's young female athletes."
“Vermont Mutual has been a tremendous partner of UVM Athletics and we’re very excited for their enhanced involvement around National Girls and Women in Sports Day,” said UVM Director of Athletics Jeff Schulman. “We very much appreciate the ongoing commitment to our student-athletes, coaches and our overall program, and the unwavering support of the ‘Cats Win, Community Wins’ initiative which helps support so many amazing organizations in our community.”
“It’s so wonderful to have Vermont Mutual invest in females and their bright futures.” Said Women’s Basketball Coach Alisa Kresge. “NGWSD is about celebrating females in athletics everywhere and to honor those remarkable women who paved the way for girls and women today. More importantly it’s about continuing to empower young females and helping them push to achieve their goals in life. A big thank you to Vermont Mutual for being a part of paying it forward to keep doors open for our girls.”