PITTSBURGH – HM Insurance Group is on track to have one of its best year-end financial performances with its 2015 results. The company is positioned to reach more than $1 billion in gross revenue for the third consecutive year and achieve record operating income, which is up 60 percent over 2014.
“We are incredibly pleased with our 2015 financial performance, which has positioned HM for further growth into 2016,” said Matt Rhenish, president and chief operating officer, HM Insurance Group. The strong performance is attributed to HM’s ability to retain well-performing business while managing expenses in a competitive market. The organization will continue to look for opportunities to deliver value to its distribution partners and customers in 2016 and beyond.
The company’s profitable growth can be attributed to the strong performance of the Stop Loss block that delivers the majority of the company’s premium. Additionally, HM Workers’ Compensation met expectations for 2015 and remains a strong player in Pennsylvania.
“Employees across our company did a great job staying focused on customers and the market,” said Rhenish. “Now, 2016 is off to a strong start, with new business up 20 percent compared to January 1, 2015, and retention right at our expectations.”
Additional key financial indicators and accomplishments in 2015 include:
- Total company new business premium of more than $200 million, across all product lines
- Recognition by Ward Group for the seventh consecutive year as one of Ward’s 50® Top-Performing Insurance Companies, based on financial strength
*Numbers based on year-end projections, December 2015.