Synergy Insurance Company Reports Solid First Half 2014 Results

August 12, 2014

Synergy Insurance Company reported its financial results for the first six months of 2014. The company's combined ratio was 86.4% due to positive prior year loss developments and profitable current accident year results. During this same time period, the company had $533,000 of net income and grew surplus by 4.7%. The company grew inforce premiums by 8% in the first half of the year and is experiencing increasing opportunities for the second half in underserved classes of business and risk sharing products.

Financial Highlights

  • Combined ratio of 86.4%
  • Loss ratio of 64.3%
  • Expense ratio of 22.1%
  • Surplus growth of 4.7% to $12.6 million