For Immediate Release
April 18, 2019
Media Contact: Thomas Thamm
(802) 229-8975
[email protected]
MONTPELIER, Vermont (April 18, 2019)—Vermont Mutual Insurance Group®, a leading Property and Casualty insurance company, recently held its 192nd Annual Meeting at its home office in Montpelier, VT. Reviewing the results for 2018, President, CEO and Board Chairman, Dan Bridge, stated that “We could not be more pleased with our results for 2018. The Company continued to responsibly grow our book of business and strengthen our financial position through continued underwriting profits, which contributed to another year of excellent policyholder surplus growth.”
Bridge added “Over the course of 2018, policyholder surplus increased by 6.1% to more than $493 million. The Company also enjoyed an 89% policyholder retention rate with written premium growth of 6.4% to $495 million. For the tenth consecutive year Vermont Mutual was named a Top 50 Insurer in the U.S. by Ward Group and we were once again named a Best Place to Work in Vermont.”
Executive Vice President and COO, Mark McDonnell, remarked “We are pleased that Vermont Mutual again achieved very positive financial results for 2018 and our commitment to continuous improvement resulted in great strides in the areas of operations, technology and innovation. Our valued Independent Agency Partners also continued to favor us with exceptional business and A.M. Best once again reaffirmed our financial strength rating of A+ Superior. McDonnell added “We are equally pleased that through Vermont Mutual’s Charitable Giving Fund, we were able to provide more than $350,000 to worthy organizations across our marketing territories.”
The Annual Meeting also marked the addition of two new Board members: Mary Powell, President and CEO of Green Mountain Power and Mark McDonnell, Executive Vice President and COO of Vermont Mutual Insurance Group. Upon welcoming McDonnell and Powell to the Board, Dan Bridge stated “I am honored to have Mark and Mary join Vermont Mutual’s Board of Directors. We are fortunate to have their many years of business expertise and wisdom to help us guide the company for years to come.”
Officers elected at this year’s meeting are as follows:
Daniel C. Bridge, Chairman, President and Chief Executive Officer
Mark J. McDonnell, Executive Vice President and Chief Operating Officer
Richard N. Bland, Vice President, General Counsel and Secretary
Brian C. Eagan, Vice President, Chief Financial Officer and Treasurer
Susan L. Chicoine, Vice President Human Resources
David N. DeLuca, Vice President Claims
Shaun P.T. Farley, Vice President Marketing
Bryan Mjannes, Vice President Information Technology
Terry J. Moore, Vice President Underwriting
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Vermont Mutual Insurance Group® is a trade name of Vermont Mutual Insurance Company, Northern Security Insurance Company, Inc. and Granite Mutual Insurance Company. Chartered in 1828, Vermont Mutual is one of the ten oldest mutual property/casualty insurers in the United States and provides coverage throughout New England and upstate New York. Through more than 400 independent agencies, the Group insures over 300,000 policyholders with a direct written premium of more than $475,000,000. The group is rated “A+ Superior” by A. M. Best and a Ward’s Top 50 performing property/casualty insurer in the U.S. for the past ten consecutive years
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