Corporate & Financial Information
Current Financials
2nd Quarter 2025 Financial Commentary
Energy Insurance Mutual Limited (“EIM”) recorded a gain on surplus of $50.8 million for the six months ended June 30, 2025 driven by favorable investment market performance partially offset by claims development. This is compared to a budget of $30.0 million and $12.3 million for the same period 2024.
EIM’s investment income totaled $110.7 million for the first half of 2025 compared to $81.8 million for the same period 2024. EIM recorded a loss from underwriting of $47.3 million in the first six months of 2025 compared to a loss of $67.0 million for the same period prior year.
Highlights from 2025 include:
- Distribution of $25.0 million paid in March 2025 to members of record at December 31, 2024.
- Surplus of $1.4 billion, an increase of $50.8 million or 3.8%.
- Combined ratio of 120.3% for the first half of 2025 as compared to 141.1% for the same period prior year.
- Membership retention of 100% was achieved in the first six months of 2025.
EIM had a return on investments of 4.2% compared to a budgeted return of 2.8% for the first half of 2025. The return is a result of gains on international equities of 18.4%, US equities of 4.9%, fixed income securities of 3.5%, and alternative investment securities of 3.3%.
Corporate Governance
Board of Directors
Corynne Arnett
Executive Vice President Regulatory Affairs and Customer Experience
Dominion Energy, Inc
Brian B. Bird
President and Chief Executive Officer
NorthWestern Energy
G. Thomas Bolton, III
President and Chief Executive Officer
Energy Insurance Mutual Limited
Marcus V. Brown
Executive Vice President and General Counsel
Entergy Corporation
Giles Carmichael
Chancery Chambers, Partner
Rejji Hayes
Executive Vice President and Chief Financial Officer
CMS Energy Corporation
Kodwo Ghartey-Tagoe
Executive Vice President and CEO, Duke Energy Carolinas
Head of Natural Gas Business Unit
Duke Energy
Jeanne Jones
Executive Vice President and Chief Financial Officer
Exelon Corporation
Martin J. Lyons, Jr.
President and Chief Executive Officer
Ameren
Amanda Rome
Executive Vice President and Group President - Utilities, Chief Customer Officer
Xcel Energy Inc.
Dan S. Tucker
Executive Vice President and Chief Financial Officer (Retired)
Southern Company
Officers
Martin J. Lyons, Jr., Ameren
Chair
Kodwo Ghartey-Tagoe, Duke Energy
Vice-Chair
G. Thomas Bolton, III
President and Chief Executive Officer
Chancery Corporate Services Limited
Assistant Corporate Secretary
M. Cindy Dobbins
Vice President – Chief Claims Officer
Jill C. Dominguez
Vice President – Chief Underwriting Officer
Tanner V. McAndrew
Vice President – Risk Management and Corporate Strategy
Megan E. Ogden
Vice President – Captive Subsidiaries
Jeffrey M. Tkacz
Vice President – Chief Financial Officer
Kevin R. Wolff
Vice President – General Counsel and Corporate Secretary
Leadership
Enterprise Risk Management
ERM (Enterprise Risk Management) plays an integral role in how EIM manages our business. As such, the ERM Committee, reporting to the Board of Directors, has defined the Company's risk tolerance policy as follows.
Corporate Risk Tolerance
We have set our corporate risk tolerance at being able to withstand a modeled 1/200 VaR annual aggregate occurrence and maintain an "A" rating by AM Best on an entity wide level. The related categories include reserve, underwriting, operational, investment, catastrophe and reinsurer credit risk. Risk capacity is the percentage at or above this level and is used to measure how effectively the Company is managing risk on a quarterly basis.