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Our Results

Our Strong Financial Foundation and Big Heart: A Winning Combination

Most people consider financial strength to be a key component of an insurance carrier because you need them to provide resources and assistance when you need it most. At Badger Mutual Insurance Company, we find that having a big heart is just as important—if not more important—than a solid financial foundation.

For us, it all starts with relationships. We work diligently with our local agents to provide them the service, technology, and solutions they need for their customers–quickly. This dedication allows our agents to provide quality insurance solutions for their local community members, property owners, and businesses.

Our heart extends to the investment in our people, building on our staff members’ talent and experience. Badger Mutual has a great mix of friendly, energetic, and enthusiastic employees who really like and understand insurance, and the protection it provides to our customers. You’ll notice the difference the first time you pick up the phone or walk into one of our agents’ offices—exceptional service from people who are genuinely interested in you.

Badger Mutual’s focus on relationships extends to our community. Our employees volunteer many hours helping to make their communities a better place to live. We also support local and national charities.

Badger Mutual–The Heart of Your Insurance Protection

Finally, heart is all about sharing. We share our annual reports and business information so both agents and customers know we are strong, secure, and operate in a highly ethical and professional manner. And since we are a mutual insurance company, we measure our ultimate performance by the satisfaction of the people we serve–our agents and customers—not profits.

Assets, Liabilities & Surplus

Assets20152014
Cash and Short-Term Securities$11,577,246$18,170,745
Bonds (Amortized Cost)117,423,563109,183,445
Stocks (Market Value)9,594,1586,326,586
Mortgage Loans2,110,3952,867,506
Real Estate7,151,4497,636,174
Accrued Investment Income701,010876,985
Premium Balances14,806,74314,953,387
Company Owned Life Insurance4,353,5414,198,564
Deferred Taxes/Federal Taxes Receivable6,064,5263,777,544
Loss Recoverable from Reinsurers48,482103,409
Computer Hardware233,53657,355
Total Assets$174,064,648$168,151,700
Liabilities & Surplus20152014
Reserves for Losses & Adjusting Expenses$54,673,878$53,667,513
Reserve for Unearned Premiums41,906,52842,177,496
Reserve for General Expenses4,609,6005,058,892
Reserve for Premiums Paid in Advance1,316,2071,280,199
Reinsurance Payable845,9191,080,876
Reserve for Federal Income Taxes053,984
Reserve for Pension Benefits5,910,7222,236,651
Reserve for Other Liabilities646,669690,247
Policyholder Surplus64,155,12561,905,842
Total Liabilities & Surplus$174,064,648$168,151,700

Statement of Income

 20152014
Premiums Written$98,626,959$100,737,883
Change in Unearned Premiums270,968(398,066)
Reinsurance Ceded(7,671,944)(7,740,968)
Premiums Earned$91,225,983$92,598,849
Losses Incurred54,407,75058,343,768
Loss Adjusting Expenses Incurred9,042,88810,355,136
Underwriting Expenses Incurred26,059,62826,262,332
Underwriting Gain (Loss)$1,715,717($2,362,387)
Net Investment Income$1,976,123$4,356,074
Other Income502,628545,664
Dividends to Policyholders(99,127)(53,925)
Federal Income Taxes54,53554,014
Net Gain (Loss)$4,040,808$2,431,412
Net Premium/Surplus Ratio1.421.50
Percentage Growth in Premiums Written-2.25%1.15%
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