Friday, January 15, 2016

HM Insurance Group Announces Strong 2015 Financial Results

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.

About HM Insurance Group
HM Insurance Group (HM) provides insurance and reinsurance coverage to protect businesses from the financial risk associated with catastrophic health care costs. A recognized leader in Employer Stop Loss, the company delivers protection for a range of group sizes. HM also offers managed care solutions, including Provider Excess Loss insurance and Health Plan Reinsurance. HM Life Insurance Company, HM Life Insurance Company of New York and Highmark Casualty Insurance Company are all rated “A” (Excellent) by AM Best Company. Through its insurance companies, HM Insurance Group holds insurance licenses in 50 states and the District of Columbia and maintains sales offices across the country. Learn more on hmig.com.

Why HM

A strong, experienced carrier, HM responds to market changes and works with clients to ensure their coverage needs are met through expert risk assessment and exceptional delivery of benefits.

MEET OUR LEADERSHIP

Stop Loss coverage is underwritten by HM Life Insurance Company, Pittsburgh, PA, in all states except New York, under policy form series HMP-SL (08/19) or HMP-SL (06/20) or similar. In New York, Stop Loss coverage is underwritten by HM Life Insurance Company of New York, New York, NY, under policy form series HMP-SL (06/20) or similar. In all states except New York, Provider Excess Insurance is underwritten by HM Life Insurance Company, Pittsburgh, PA, or Highmark Casualty Insurance Company, Pittsburgh, PA, under policy form series HM PEL 1105, HC PEL 1105, HMP PEL (09/20) or similar. In New York, Provider Excess Insurance is underwritten under policy form series HMNY PEL1105 or similar. In all states except New York, Assumed Accident and Health Reinsurance is underwritten or reinsured by HM Life Insurance Company, Pittsburgh, PA, or Highmark Casualty Insurance Company, Pittsburgh, PA, under form HM1005-ELR or similar. In New York, Assumed Accident and Health Reinsurance is reinsured by HM Life Insurance Company of New York, New York, NY. The coverage or service requested may not be available in all states and is subject to individual state approval. Reinsurance agreements only reflect a form number when required by applicable state law.