Latest Market Analysis Affirms Strength of Mutual Insurance Industry.

ENPNewswire-September 21, 2021--Latest Market Analysis Affirms Strength of Mutual Insurance Industry

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Release date- 20092021 - New report adds to the evidence supporting the overall financial strength and stability of mutual insurers.

The National Association of Mutual Insurance Companies and Aon have taken another step toward understanding how mutual insurers' performance, structure, and focus set them apart from other insurance entities with today's release of the fourth annual market analysis of the mutual insurance industry.

The latest report, 'Mutual Factor 2021: How Performance, Structure, and Focus Set Mutual Insurance Companies Apart,' evaluated nearly 30 performance metrics for mutual insurance companies in 2020 compared to other insurer categories and assessed the impact of rating agency criteria on mutuals. Similar to last year's report, the newest Mutual Factor Report analyzed performance metrics for the first two quarters of 2021 and shared findings from a recent survey of independent insurance agents.

Neil Alldredge, NAMIC president and CEO, noted that 2020 is likely to be remembered as one of the most significant years in history for the insurance industry because of the pandemic and severe storms and wildfires. As such, some significant performance impact was anticipated, but that's not what the data showed.

'Perhaps what is most surprising about the 2021 Mutual Factor Report is how similar the industry's performance in 2020 was to previous, less challenging years,' Alldredge said. 'The biggest takeaway from this new report is the enduring success of the mutual model and the value of the long-term approach that is the foundation of the mutual industry.'

The report looks at some distinctions in the key measures of operating performance between mutual and stock insurers and the industry overall through June 2021, during 2020, and over a five-year period. In addition, the report analyzes the impact of rating agency criteria on mutuals.

Chris Delhey, senior managing director and Aon's Mutual Practice Group Leader, reflected on the joint effort with NAMIC.

'Aon could not be prouder to continue our partnership with NAMIC on this important benchmarking report. Each year we take a hard look at these studies and seek to make improvements and additions that will make the information and data even more useful to mutual insurers and their leadership,' Delhey said.

'The 2021 edition...

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