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Vermont Mutual Insurance Group Holds Its 195th Annual Meeting

MONTPELIER, Vermont (April 21, 2022)— On April 20, 2022, Vermont Mutual Insurance Group® held its 195th Annual Meeting of policyholders and Directors, reporting on Company results for 2021.

Over the course of 2021, Vermont Mutual Insurance Group reached several historic milestones, increasing its written premium by 5.9% to $577 million and growing policyholders’ surplus by more than 13% to a record $743 million.

President, CEO and Board Chairman of Vermont Mutual, Dan Bridge, stated “As the disruptions of the COVID pandemic continued into 2021, we were fortunate to leverage many important lessons gained from successfully managing the numerous challenges of 2020 to achieve very favorable financial and business results in 2021.” Bridge continued “2021 proved to be another profitable year for Vermont Mutual. We achieved a combined ratio of 91.4% and solid policyholder retention of 88.7%. In addition, the strong relationships we enjoy with our independent agency partners allowed us to produce a record $74 million in new business premium."

Mark McDonnell, Vermont Mutual’s Executive Vice President and COO, noted “Exceptional financial results notwithstanding, in 2021 we also modernized systems and processes via our Summit project and other initiatives. We also focused attention on core company values, highlighting equity, inclusion and increased diversity throughout the Company."

The following officers have been elected by the Vermont Mutual Board of Directors:

Daniel C. Bridge, President & Chief Executive Officer
Mark J. McDonnell, Executive Vice President & Chief Operating Officer
Jonathan R. Becker, Vice President - Underwriting
William J. Cahill, Vice President - General Counsel and Secretary
Susan L. Chicoine, Vice President- Human Resources
Sarah B. Young, Assistant Vice President – Human Resources
David N. DeLuca, Vice President – Claims
Shaun P.T. Farley, Vice President – Marketing
Brody N. Gilbert, Vice President – Chief Financial Officer and Treasurer

Additionally, Brody Gilbert was promoted to the position of Chief Financial Officer. Dan Bridge remarked “Having successfully transitioned through the retirement of former CFO Brian Eagan, and leading a number of key initiatives for our company, it is my great pleasure to congratulate Brody on his well-deserved promotion.”

Vermont Mutual Named as a ‘Best Place to Work’ for Seven Consecutive Years

For the seventh year in a row, Vermont Mutual Insurance Group® was recognized as one of the Best Places to Work in Vermont by Vermont Business Magazine and the Vermont Chamber of Commerce.

Each year Vermont Business Magazine surveys and reviews the policies, systems, practices and demographics of Vermont companies to identify the best places to work in the state. Included in the assessment are anonymous survey responses from employees, which account for 75% of the total evaluation.

Susan Chicoine, Vermont Mutual’s Vice President of Human Resources, stated “We could not be more pleased to be named a Best Place to Work in Vermont, especially for the seventh year in a row! The distinction directly reflects the positive work environment that everyone at Vermont Mutual endeavors to create.”

Vermont Mutual’s President and CEO, Dan Bridge, remarked “The Best Places to Work in Vermont recognition rounds out the distinctions earned by Vermont Mutual. As an A+ rated insurer by global rating agency, AM Best, as well as being named a Ward Top 50 company, that places us in the top 2% of insurers in the U.S., the Best Places to Work distinction complements our success in the industry with acknowledgment of our commitment to providing a rewarding and engaging work environment for our employees."

The awards program takes place on April 6, 2022 and is presented in partnership with the Vermont State Council, Society for Human Resource Management, the Vermont Department of Labor, the Vermont Department of Economic Development, and Best Companies Group.

Vermont Mutual Donates $15,000 to the Vermont Foodbank

Vermont Mutual Insurance Group® recently presented a check for $15,000 to the Vermont Foodbank as part of their partnership with UVM Athletics and the Cats Win, Community Wins initiative.

The check was presented by Dan Bridge, President and CEO of Vermont Mutual and Mark McDonnell, Executive Vice President and COO. The Catamounts secured 95 wins in 2021, bringing the donation amount to $9,500. However, to further help the Vermont Foodbank efforts, Vermont Mutual “rounded up” and increased the total amount to $15,000.

“During these extraordinarily challenging times, we feel privileged to be able to assist worthy organizations such as the Vermont Foodbank” stated Dan Bridge, Vermont Mutual’s President and CEO.

Mark McDonnell added “We are proud of our partnership with the Cats Win, Community Wins initiative, supporting both UVM athletics and our communities through the invaluable charitable work of organizations such as the Vermont Foodbank.”

John Sayles, Vermont Foodbank’s CEO, remarked “Vermont Foodbank would like to express huge gratitude to Vermont Mutual and congrats to the Catamounts for all of your wins.” Sayles continued “The partnership together is making sure that people are getting fed in Vermont during these very, very challenging times. Thank you again for all the support and...Go Cats!”

The Cats Win, Community Wins is a community-based initiative by Vermont Mutual and UVM Athletics that gives back to local organizations. As part of their multi-year agreement, Vermont Mutual will give $100 to a specified local charity for each Catamount win – inclusive of every team, every sport, home and away victories. Fans recognize this initiative as “Cats Win, Community Wins” and is supported through in-game promotion, social media, broadcast and print.

The Cats Win, Community Wins beneficiary selected for the new 2022 Catamount’s season is the Committee on Temporary Shelter (COTS). COTS advocates for long-term solutions to end homelessness and provides emergency shelter, services, and long-term housing for Vermonters who are experiencing homelessness or are marginally housed.

Vermont Mutual Sponsors National Girls and Women in Sports Day

Vermont Mutual Insurance Group®,, one of the oldest and most successful property and casualty insurers in the Northeast, has partnered with University of Vermont Athletics in a multi-year sponsorship of National Girls and Women in Sports Day.

Recognizing the importance that athletics can have in both the personal and professional development of students and youth, the initiative is designed to recognize the accomplishments and contributions of female athletes, enhance the influence of women and girls in the sports world, and promote the continued growth of women in all aspects of sports. In addition, the UVM and Vermont Mutual initiative will provide promotional opportunities to further expose young females to sports at UVM and encourage fans to show-up to support the female student-athletes

To acknowledge the accomplishments of female student-athletes, UVM and Vermont Mutual will host a celebration at the women’s basketball game on Feb. 5, 2022 when the Catamounts play host to UMass Lowell at 2 p.m.

Dan Bridge, Vermont Mutual’s President and CEO, remarked “Vermont Mutual is very proud to continue our partnership with the University and to support National Girls and Women in Sports Day. We'd also like to congratulate the female student-athletes at UVM in their commitment to the University and their responsibility as role models for today's young female athletes."

“Vermont Mutual has been a tremendous partner of UVM Athletics and we’re very excited for their enhanced involvement around National Girls and Women in Sports Day,” said UVM Director of Athletics Jeff Schulman. “We very much appreciate the ongoing commitment to our student-athletes, coaches and our overall program, and the unwavering support of the ‘Cats Win, Community Wins’ initiative which helps support so many amazing organizations in our community.”

“It’s so wonderful to have Vermont Mutual invest in females and their bright futures.” Said Women’s Basketball Coach Alisa Kresge. “NGWSD is about celebrating females in athletics everywhere and to honor those remarkable women who paved the way for girls and women today. More importantly it’s about continuing to empower young females and helping them push to achieve their goals in life. A big thank you to Vermont Mutual for being a part of paying it forward to keep doors open for our girls.”

Vermont Mutual Insurance Group Awards Scholarship Grants

Scholarship Award
From left to right: Dan Bridge, Pres. & CEO, student Nate Williams, student Molly Yacavoni, Mark McDonnell, Exec. VP & COO

Vermont Mutual Insurance Group® recently awarded two scholarship grants as part of their company's scholarship program. The scholarships were awarded to two students based on entries submitted as part of the selection process. The company's scholarship committee was tasked with the difficult selection decision based on personal essays submitted by several students. From all of the entries submitted, two essays, one from Molly Yacavoni and another from Nate Williams, were selected.

"We could not be more pleased to award these grants to two very deserving students" stated Dan Bridge, Vermont Mutual's President and CEO. Bridge continued "All of the entries were very well received and so it was quite a challenge to choose only two."

Vice President of Human Resources, Susan Chicoine, remarked "The topic of the essays was on the importance of education and in what ways it will help prepare the student for the future." Chicoine added "While all of the students who participated offered exceptional entries, Molly and Nate's essays really stood out to the committee. Nevertheless, the decision was truly a difficult one to make."

The Vermont Mutual Scholarship Program was established to help the children and grandchildren of employees at Vermont Mutual who are matriculated into a college, university, or other higher education program. The company will issue a check of $2,500 to each recipient with the only requirement that the scholarship money be used for college expenses, including but not limited to: tuition, books, room and board, and other applicable expenses related to their college, university or vocational school.

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 over 315,000 policyholders, with a direct written premium of more than $500,000,000. The group is rated “A+ Superior” by A. M. Best and a Ward’s Top 50 performing property/casualty insurer in the U.S. for the past thirteen consecutive years.

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