For Immediate Release
May 10, 2017
Media Contact: Thomas Thamm
MONTPELIER, Vermont (May 10, 2017)—Recently Vermont Mutual Insurance Group® held its 190th Annual Meeting. Over the course of 2016, Vermont Mutual Insurance Group increased its direct written premium by more than 8% to an unprecedented $434,265,941. Additionally, policyholders’ surplus increased 10% during the year to an all-time high of $420,456,488.
“This past year stands out as one of the most successful years in the 190-year history of our company,” stated Dan Bridge, Vermont Mutual’s President & CEO. Bridge continued “Our strong financial results strengthened our business for our policyholders, Independent Agency Partners and employees. We were again named one of the Top 50 property casualty insurers in the U.S. and one of the Best Places to Work in Vermont. Operational improvements and modernization efforts were significant and we remain well-positioned to meet the needs of both our Agent Partners and their customers for years to come.”
Mark McDonnell, Executive Vice President and COO, added “We continue to foster a relationship-based approach in claims, underwriting and marketing, and thankfully our Agent Partners favored us with a record level of new business of over $64 million. Our growth and strong retention is an indication that agents and policyholders are pleased with the value they receive from insuring with Vermont Mutual.”
The annual meeting also marked the retirement of J. Timothy Ide, retired president of E.T. & H.K. Ide, Inc. of St. Johnsbury, Vermont, and a member of the Vermont Mutual Directors Advisory Council. Mr. Ide was presented with a Simon Pearce commemorative glass bowl acknowledging Mr. Ide’s more than thirty seven years of providing wise counsel to the company as both a member of the Board of Directors, and later the Directors Advisory Committee.
Service to Vermont Mutual runs in the Ide family, both Mr. Ide’s father and grandfather also served on Vermont Mutual’s Board of Directors for many decades. “I cannot thank Tim enough for the valuable service he provided our company over so many years,” stated Bridge. “A commitment of that type is truly unique and we’re very appreciative of all that Tim has done for us.”
The following officers were elected at this year’s annual meeting:
- 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
- Susan L. Chicoine, Vice President Human Resources
- Joanne M. Currier, Vice President Information Technology
- David N. DeLuca, Vice President Claims
- Brian C. Eagan, Vice President, Chief Financial Officer and Treasurer
- Shaun P.T. Farley, Vice President Marketing
- Terry J. Moore, Vice President Underwriting
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 300,000 policyholders with a direct written premium of more than $420,000,000. The group is rated “A+ Superior” by A. M. Best and a Ward’s Top 50 performing property/casualty for the past eight consecutive years.