Corporate & Financial Information
Current Financials
1st Quarter 2025 Financial Commentary
Energy Insurance Mutual Limited (“EIM”) recorded a gain on surplus of $10.8 million for the three months ended March 31, 2025. This was driven by positive investment market performance partially offset by a small underwriting loss. This compares to a budgeted net income of $12.7 million for the first quarter and $32.4 million for the same period 2024.
EIM’s investment income totaled $39.7 million for the first three months of 2025 compared to $54.7 million for the same period 2024. EIM recorded an underwriting loss of $26.3 million in the first quarter compared to a loss of $13.8 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 $1.36 billion, an increase of $10.8 million or 0.8% for quarter.
- Combined ratio of 122.4% for the first three months 2025 as compared to 116.5% for the same period prior year.
- Membership retention of 100% was achieved in the first three months of 2025.
EIM had a return on investments of 1.5% compared to a budgeted return of 1.4% for the first quarter of 2025. The return is a result of gains on international equities of 6.2%, fixed income securities of 2.2%, alternative investment securities of 0.9% and US equities of (1.9%).
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, Chief Legal Officer and Corporate Secretary
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
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.