Financial Summary - Second Quarter 2011

Balance Sheet 


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With assets in excess of $543 million and surplus that exceeds $229 million, MMIC Insurance, Inc. (MMIC Insurance) continues to build financial strength and stability for the protection of our policyholders over the long term. This strong surplus position also enables MMIC Insurance to seek and capitalize on growth opportunities.



Total Assets 


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With total assets exceeding $543 million, MMIC Insurance continues to build financial strength and stability for the protection of our policyholders over the long term.



Invested Assets 


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With invested assets that have grown in excess of 19% since December 31, 2006 to $499 million, MMIC Insurance provides a stable foundation for its policyholders. With 44% of our invested assets in tax-exempt bonds, MMIC Insurance has continued to receive tax equivalent yields greater than taxable bonds with the stability of a municipal portfolio. Continued positive cash flow from operations has allowed MMIC Insurance to opportunistically invest in the financial markets while maintaining a well structured and diversified investment portfolio.



Policyholders' Surplus 


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A fundamental component of an insurer’s financial strength is surplus. The surplus for MMIC Insurance has grown by over $71 million or in excess of 45% since December 31, 2006.




Income Statement 


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The $9.2 million of net income earned during the first 6 months of 2011, has continued to help build policyholders’ surplus, an important component in overall financial health. 

Because of this continued financial success, MMIC Insurance will return $6 million in dividends to policyholders’ in 2011. MMIC Insurance has given back more than $94 million to its policyholders’ since its inception in 1980.




Direct Premium Written


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Despite a highly competitive and softening market which is pressuring rates, MMIC Insurance remains as one of the leading providers of medical professional liability insurance in the Upper Midwest.




Combined Ratio 


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The statutory combined ratio is a comparison of losses and expenses to premiums. The combined ratio for MMIC Insurance was 92.8% through the first half of 2011.