PRESIDENT'S MESSAGE
For more than one hundred ten years, Western Reserve Group (Group) has helped customers protect their valued assets and rebuild after difficult losses. It is our mission to provide, protect and serve when policyholders must recover from a loss and restore well being to those whose lives have been disrupted. With our independent agency partners, we stand ready to continue to de
liver on our promise when the unexpected occurs. We fulfill our promises to policyholders by conservatively managing our business and developing superior agency relationships. These practices drive our long-term success, allowing us to provide peace of mind through increased financial security. We are proud to be recognized as an “A” (Excellent) insurance carrier by A.M. Best, the leading insurance industry rating service for financial strength and stability. The Group’s 2016 operational results and achievement of several key financial milestones are a testament to this ongoing commitment. FINANCIAL HIGHLIGHTS
Underwriting profits and favorable investment returns contributed to another successful year for our company. We posted a combined ratio of 97.5%, the fourth straight year of underwriting profits from our insurance operations. We recorded record highs in direct written premium of $215.3 million and surplus of $290.5 million, and reached a significant milestone as total assets reached $500.0 million for the first time. We are proud of our operating performance in 2016 and are pleased to continue improving our financial strength and stability in meeting our promise to policyholders. LOOKING TO THE FUTURE
Investing in technology for the long-term. We remain dedicated to investing in our business to strengthen the valuable relationships we enjoy with our policyholders and independent agency partners. We are transforming our core operating systems to create efficiencies and enhance processes that will allow us to remain competitive and viable in the future marketplace. We are currently on track for initial deployment in May 2017 with our new claims system. Other key deployments will occur over the next two years, including policy administration and billing. Providing exceptional service is critical for building trust and loyalty. We are dedicated to continually improving the services we provide to ensure we exceed your expectations. RECOGNITION AND APPRECIATION
Our accomplishments would not be possible without the commitment and partnership of our employees and agents. We extend thanks to our employees for their dedication to achieving our goals and living our core values of professionalism, integrity, superior service and teamwork. Sincere appreciation is also extended to our dedicated and loyal independent agents for their valued partnership that provides an outstanding experience for policyholders. Finally, thank you, our policyholders, for placing your trust in us to serve your insurance needs. We are proud to be your insurer of choice. Sincerely,
Kevin W. Day
President & CEO
