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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.

Vermont Mutual Named a Top 50 Insurance Company for the Thirteenth Year in a Row

Vermont Mutual Insurance Group® has again been recognized as one of the top 50 property and casualty insurers in the United States by Ward Group. This is the thirteenth consecutive year Vermont Mutual has been recognized as a “Ward’s 50” insurer. Every year, Ward Group conducts a comprehensive financial analysis of approximately 3,000 U.S. property and casualty insurers. The “Ward’s 50” designation identifies the top 50 P&C carriers in the U.S. for their consistency, safety and superior financial performance.

Dan Bridge, Chairman, President & CEO of Vermont Mutual, stated “The Ward 50 designation is one that is coveted in our industry. It speaks not only to an insurer’s financial acumen and stability, but also to the dedication and expertise required of a company's employees to achieve such extraordinary results. This recognition stands as confirmation of Vermont Mutual's commitment to remaining the stable, predictable, and competent partner our policyholders and our independent agents have relied on for 194 years."

“To find ourselves in the top 2% of insurance companies nationally is an accomplishment we could not be more proud of" remarked Mark McDonnell, Vermont Mutual’s Executive Vice President and COO. "It is a distinction that is due, in no small part, to the strong partnerships we have developed with our independent agents and to the hard work of the entire Vermont Mutual team, all of whom remain dedicated to producing exceptional results year after year.”

Every company recognized by Ward Group as a Top 50 Insurer has demonstrated superior performance based on a comprehensive examination of the past five years of financial results and passed all safety and consistency screens. As a recipient of the Ward’s 50 designation for thirteen consecutive years, Vermont Mutual has again affirmed its position as a leading provider of homeowner, automobile and business insurance in the Northeast, and ranks their performance in the top tier of all companies nationwide since 2009.

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 Insurance Group Adds New Board Member

photo of Premila Peters
Premila Peters

MONTPELIER, Vermont—Vermont Mutual Insurance Group®, long recognized as a top 50 Property and Casualty insurer in the U.S., has recently elected Premila Peters, President of Data Innovations of Colchester, Vermont, to the company’s Board of Directors.

Since 2013, Ms. Peters has been responsible for leading Data Innovations (DI), a global software company serving 6000+ hospitals in 185+ countries, through its commercial and business transformation. In this timeframe, the company has more than doubled revenues, modernized technology and expanded their footprint in four continents.

Ms. Peters began her career working at KPMG in Burlington, Vermont, as an auditor and then spent a decade at KDP Investment Advisors in Montpelier, Vermont where she served in various roles including Chief Operating Officer. Prior to joining DI, she held the position of Chief Financial Officer at GE Healthcare.

Ms. Peters holds an MBA from the University of Vermont and a bachelor’s degree from the University of Bombay, India. Additionally, she holds the designations of Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA). She has served on the boards of both for-profit and non-profit organizations throughout her career.

Upon welcoming Ms. Peters to the Board, Dan Bridge, Vermont Mutual’s Board Chairman, President and CEO, stated “We are fortunate to elect Ms. Peters to Vermont Mutual’s Board of Directors.” Bridge continued “In addition to her strong business acumen, Premila brings with her a diverse set of skills and perspectives with appreciation and experience managing a Vermont-based business. Vermont Mutual will undoubtedly gain immensely from her contributions.” Reflecting on Ms. Peters’ many accomplishments, Bridge added “Having spent over a decade in the software industry and more than two decades in healthcare, Premila brings a wide range of business experience and strong financial expertise. She has a passion for strategic business growth and isn't afraid to ask difficult questions.”

Ms. Peters commented “I am very pleased to be welcomed to Vermont Mutual’s Board of Directors. Vermont Mutual is more than a very successful property and casualty insurer, they are a respected and valued member of our communities.” Ms. Peters continued “I consider it a privilege to have been invited to the Board and I am excited to play a role in the continuation of their success.”

Presently, Ms. Peters is on the board of King Street Center and is a member of the Vermont Business Roundtable. She has chosen to make Vermont her home for almost thirty years and resides in Shelburne, Vermont with her husband.

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

Vermont Mutual Insurance Group® was again recognized as one of the Best Places to Work in Vermont by Vermont Business Magazine and the Vermont Chamber of Commerce for 2021. This is the sixth year in a row Vermont Mutual has received the distinction since first entering the state survey and awards program back in 2016.

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.”

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