2014 Synergy Insurance Company Financial Highlights

March 9, 2015

Combined ratio 74.2%

    • Synergy Insurance Company combined ratio of 74.2% comprised of a loss & loss adjustment ratio of 51.7% and a 22.5% expense ratio
    • The Company's prior calendar year combined ratio was 72.9%

 Surplus increased $2.5 million

    • Surplus increased for Synergy Insurance Company by 20.8%
    • Total surplus grew to $14.6 million

Premium growth of $8.8 million (excluding prior year Novation impact)

    • Direct written premium of $29.4 million
    • Large Deductible product contributed approximately 60% of the increase

 Total assets growth of $10 million

    • Total assets reached $51.5 million
    • Total invested assets grew by $5.1 million to $37.4 million

 Favorable financial performance continued in 2014 due to several factors, including profitable current accident year underwriting results, better-than-expected prior year loss development, and premium growth in both Guaranteed Cost and Large Deductible product lines.


2015 Reinsurance Program

Synergy Insurance Company maintains a conservative reinsurance program designed to preserve the capital base.  The Company has both Quota Share Reinsurance and Excess Reinsurance.

Excess Reinsurance: Per occurrence losses exceeding $1 million are ceded to A- (or better) reinsurance companies.

Quota Share Reinsurance: 55% of losses, below the excess limits, are ceded to A- (or better) reinsurance companies.