Vermont Mutual Insurance Group Holds Its 194th Annual Meeting

MONTPELIER, Vermont—Vermont Mutual Insurance Group®, a leading Property and Casualty insurance company, held its 194th Annual Meeting at its home office in Montpelier, VT. Due to prevailing travel and quarantine restrictions, the company was required to conduct the meeting remotely.

Reviewing the results for 2020, Dan Bridge, President, CEO and Board Chairman of Vermont Mutual, stated “While the impact of the global pandemic began to affect our region in the early part of the year, we were quick to take steps to ensure the safety of our employees all while maintaining high levels of service to our customers and agency partners.”

Addressing company results, Bridge noted “As a company we were able to make significant advancements in all areas of our business. Over the course of 2020, policyholder surplus was increased by 11.7% to $653 million. The Company also enjoyed strong policyholder retention and a written premium growth of 4.8% to $534 million. Bridge added “Our A+ Financial Strength rating was again affirmed by AM Best and for the twelfth consecutive year in a row Vermont Mutual was named a Top 50 Insurer in the U.S. by Ward Group. In addition, Vermont Mutual was named a Best Place to Work in Vermont for the sixth year in a row.”

Executive Vice President and COO, Mark McDonnell, remarked “We are not only pleased to report that Vermont Mutual has again achieved positive operating results for 2020, but we are equally pleased to report that through Vermont Mutual’s charitable giving efforts, we were able to provide one million dollars directly to COVID-19 relief efforts in Vermont. We also returned nearly 5 million dollars to our auto customers and provided them the opportunity to pay that return forward to a worthy charity, an option many of them chose.”

Company officers elected at this year’s meeting were as follows:

Daniel C. Bridge, Chairman, President and Chief Executive Officer
Mark J. McDonnell, Executive Vice President and 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
David N. DeLuca, Vice President, Claims
Shaun P.T. Farley, Vice President, Marketing
Brody N. Gilbert, Vice President, Finance
Bryan A. Mjaanes, Vice President, Information Technology

Vermont Mutual Donates $15,000 to Spectrum Youth and Family Services

BURLINGTON, Vermont (January 19, 2021)—Vermont Mutual Insurance Group® recently donated $15,000 to Spectrum Youth and Family Services as part of the Cats Win, Community Wins program, a multi-year, community-based collaboration between Vermont Mutual Insurance Group and the University of Vermont.

The Cats Win, Community Wins initiative was created by Vermont Mutual and UVM Athletics to give back to local charitable organizations. As part of their arrangement, Vermont Mutual donates $100 for every Catamount win to a selected charity. Due to the COVID-19 pandemic that surfaced in early 2020, most Catamount games had to be cancelled. As a result, Vermont Mutual wanted to ensure that the excellent work Spectrum does for their community was still recognized. To that end, Vermont Mutual decided to increase their usual contribution to address the lack of games played and won by UVM.

Speaking on behalf of the initiative, Dan Bridge, President and CEO of Vermont Mutual, noted "When we began to see the impact the pandemic was having on our communities in Vermont, including the cancelling of most UVM athletic events in 2020, we decided to move forward with a donation to Spectrum and go a step further by rounding up to a $15,000 donation. We know Spectrum will put it to great use." Bridge added "It was our employees who chose Spectrum Youth and Family Services of Burlington, Vermont and we are proud that through the hard work of Vermont Mutual employees and the great results their efforts have produced, Vermont Mutual was able to contribute more than $1 Million in COVID-19 relief across Vermont, including Spectrum Youth and Family Services."

Spectrum Executive Director, Mark Redmond, stated "We at Spectrum are so grateful to Vermont Mutual for their support of Spectrum Youth and Family Services through the Cats Win program.  $15,000 is a much-welcome gift, especially during this year when COVID has disrupted so much of our state and country. We will use this gift to support our Basic Needs programs which provide food, clothing and a place to live for homeless teens and young adults."

The Cats Win, Community Wins program will continue throughout the upcoming year; with 2021's charitable beneficiary being Vermont Foodbank.

Mark McDonnell, Executive Vice President and COO at Vermont Mutual, remarked "We are pleased to name the Vermont Foodbank as this year's Cats Win, Community Wins charity. Vermont's communities have been severely impacted by the COVID-19 pandemic and with so many struggling at this time, the Vermont Foodbank continues to play a significant role by providing healthy meals to Vermont families."

Vermont Foodbank CEO, John Sayles, stated "I want to say thank you so much to UVM and Vermont Mutual, a long-time supporter of the Foodbank, for using the Vermont Foodbank as the beneficiary of 2021's Cats Win, Community Wins. This is truly a win for the community supporting our neighbors who might otherwise not be able to afford nourishing food.”

Vermont Mutual & UVM Cats Wins program from Vermont Mutual Insurance Group® on Vimeo.

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 twelve consecutive years.

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

Every year Vermont Business Magazine surveys companies to identify the best places to work in the state. They review company policies, systems, practices and demographics. Included in the assessment are anonymous survey responses from employees, which account for 75% of the total evaluation. Notably, Vermont Mutual had an impressive 88% survey participation, more than twice the required response rate for the survey. The awards program 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.

Vice President of Human Resources, Susan Chicoine, stated “Vermont Mutual has been in operation for 193 years and during that time the company has experienced many tumultuous events throughout our country's history and so it is especially gratifying to be named a Best Place to Work in Vermont in 2021. The COVID-19 pandemic that has affected our entire planet has also deeply affected Vermont companies and their families and this recognition is, in no small part, thanks to the incredible strength and resilience our employees have shown during this uniquely challenging time.” Chicoine added "We remain grateful to our more than 300 employees, some of whom have been with the company for decades, for their dedication to the company, their fellow employees, our agent-partners and our valued customers.”

Dan Bridge, Vermont Mutual’s President and CEO, remarked “Being recognized as a Best Place to Work is an honor, that in many ways, I may be most proud of as president and CEO of Vermont Mutual.” Bridge continued “The recognition represents many things, including the positive environment our employees endeavor to create as well as the company's commitment to excellence, cooperation, a willingness for transparency as well as listening and acting on employee feedback.”

Ward Group Recognizes Vermont Mutual as a Top 50 Insurer for the Twelfth Consecutive Year

For the twelfth year in a row, Ward Group, the leading provider of benchmarking and best practices studies for insurance companies, has named Vermont Mutual Insurance Group® as one of the top 50 performing property and casualty insurers in the United States, placing the company in the top 2% of all P&C insurers countrywide. Headquartered in Montpelier, VT, Vermont Mutual has been in business since 1828 and provides comprehensive insurance solutions for home, business and auto, throughout the northeastern United States.

"We are very pleased to be named a Ward Top 50 company for the twelfth consecutive year" stated Vermont Mutual’s President & CEO, Dan Bridge. "It is a direct reflection of the hard work and dedication of the entire Vermont Mutual team. Thanks to their efforts, we have enjoyed strong financial results year after year, with 2019 being one of our best.” Bridge continued "It’s precisely these excellent results that have allowed us to not only weather the recent challenges brought on by the COVID-19 pandemic but to be able to dedicate over one million dollars in relief funds to those adversely affected by the pandemic."

Mark McDonnell, Executive Vice President and COO of Vermont Mutual, added “The Ward's 50 designation is confirmation of our continued commitment to being a financially secure business for our policyholders, our independent agency partners and our employees. During these very uncertain times, that’s more important than ever and that has allowed us to continue to meet the needs of our customers.” McDonnell added “We’re pleased to share this recognition with our employees, agency partners and all of our business partners, whose combined efforts have earned us the Ward 50 designation now for 12 consecutive years.”

Every year Ward Group identifies the industry’s top insurance companies through a comprehensive financial analysis of approximately 3,000 U.S. property and casualty insurers. This is the 30th year Ward Group has conducted the analysis. The companies recognized by Ward Group have all passed safety and consistency screens and achieved superior performance over a five year period.
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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 twelve consecutive years.