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Synergy Insurance Company Announces Year-to-Date 2013 Earnings

August 27, 2013

Synergy Insurance Company announced its year-to-date earnings for 2013 with a net income of $1.6 million.

Major Highlights:

  • June 30 inforce premium of $20.2 million, up from $13.1 million on December 31, 2012
  • Combined ratio of 91.4% and net underwriting gain of $1.7 million
  • Renewal net rate change of 7%
  • Company Surplus gain of 14%
  • Successfully completed North Carolina Chamber Fund policy assumption and loss portfolio transfer in second quarter of 2013