GuideOne Insurance Reports 2013 Year-End Results
WEST DES MOINES, Iowa – (March 5, 2014) – GuideOne Insurance, a national niche market insurer based in West Des Moines, today announced its 2013 year-end results. While the company, which insures churches, senior living communities, schools and colleges, autos and homes, had a small net loss of $7.6 million in 2013, it posted surplus of $553.4 million (the highest in company history), and direct and assumed written premium of $576.5 million, which was a 13.6% increase year over year besting industry projections.
“We were very pleased with the top-line growth we experienced in 2013,” said Jim Wallace, GuideOne chairman, president and CEO. “With the industry only expecting to grow at a rate of just over 4% for the year, we couldn’t be happier with these results and are excited to see this trend continue in 2014. This growth means even more to our company, as two unusual and unanticipated weather-related catastrophes had a sizeable impact on our bottom line and overall results. However, projections show us getting back on track to being profitable once again in 2014.”
Prior to 2013, GuideOne experienced 11 years of successive profitability and was included among the Ward’s 50 Top Performing Insurance Companies the past three years.
The following recaps GuideOne’s year-end results:
|Direct & assumed written premium||
|Premium to surplus ratio||
0.9 to 1
|Return on equity||
Founded in 1947 and headquartered in West Des Moines, Iowa, GuideOne Insurance is one of the nation’s largest church insurers, with more than 46,000 church policyholders. GuideOne also insures private schools and higher education institutions, nonprofit organizations, as well as senior living communities. In 1999, the company created the GuideOne Center for Risk Management® in order to help churches and faith-based organizations safeguard their ministries. This effort was expanded in 2008 with the launch of SafeChurch®, the most comprehensive church risk management online resource available. GuideOne is licensed to do business in all 50 states and markets its products and services through nearly 3,000 independent and career agents. The company carries an A “Excellent” rating from A.M. Best. For more information, visit GuideOne.com.