I am pleased to share with you our financial results from another strong quarter. For the six months ending June 30, 2015, FFVA Mutual Insurance has reported net income of $7.7 million representing an increase of 7.9% over the same period in 2014. In addition, new business written through the second quarter of 2015 increased 33.5% compared to the prior year. These results reflect ongoing strategic efforts to improve profitability and increase premium growth in our 10 state markets.

Financial Highlights for the six months ending June 30, 2015:

Net Admitted Assets increased 6.9% to $329.1 million.
Policyholder Surplus increased 4.2% to $143.9 million.
Direct Written Premium increase of 11% over the same period in 2014.
Net Underwriting Gain of $5.5 million.
Net Income of $7.7 million compared to $7.1 million prior year to date.
Net Investment Gain of $4 million.
Direct Loss Ratio of 46.2% compared to 52.0% through six months in 2014.
Year to date Combined Ratio of 83.9% compared to 90.9% for the same period in 2014.

At FFVA Mutual, we are proud to offer our appointed agencies and policyholders outstanding workers' comp solutions every day through dependable underwriting, safety and claims services. As we look to a successful year-end, thank you for your confidence and continued business.

Sincerely,

Craig Menzl
President & CEO

Click here to view our 2015 Annual Report.

Rated A- (Excellent), FSC VIII by A.M. Best, FFVA Mutual insures a variety of businesses in all major industries, writes business in 10 states (Alabama, Florida, Georgia, Indiana, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee and Virginia).