Workers' Comp Workers' Comp

Financial Facts

2006 was an extremely strong year for ICW as the Company improved upon its 30+ year track record of profitability and disciplined growth.

Workers' Comp - Net Premiums Written 2003 to Est. 2007 $ in 000's

Net Premiums

Workers' Comp - Combined Ratio 2003 to Est. 2007

Combined Ratios

ICW GROUP RESULTS:

  • AM Best Rating - A- (Excellent) Financial size category of IX ($250 million to $500 million).
  • Combined Ratio - 2006 normalized combined ratio was only 92.1%. We are proud to have met our budget for combined ratio. For 2007, we have budgeted for a 90.1%, 6.7% better than the 2007 industry estimate of 96.8%.
  • Net Written Premium - Net written premium was organically grown from $245mm in 2005 to $294mm in 2006.
  • Operating Ratio - In 2006 we had a record company operating gain of $50mm.
  • Surplus - Policyholder surplus was increased to more than $510mm. This represents a substantial increase in the Company’s capital base from $189mm in 2002. We have now joined the list of the top 100 largest domestic insurance groups.
  • BCAR - After the Wachovia-Westcorp merger, the BCAR has risen to 340, with a catastrophe stressed BCAR of 260.
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