Corporate & Financial Information

Current Financials

Corporate Governance

Annual Reports

Leadership

Members' Reports

Enterprise Risk Mgmt.

Current Financials

1st Quarter 2023 Financial Commentary

Energy Insurance Mutual Limited (“EIM”) recorded a gain on surplus of $26.7 million for the three months ended March 31, 2023. This is compared to a loss of ($75.6) million for the same period in 2022. EIM recorded a loss from underwriting of ($19.1) million compared to a loss of ($33.5) million in the prior year.

EIM’s investment income totaled $52.5 million for the first three months of 2023 compared to a loss of ($62.8) million for the same period in 2022. Current year investment results were impacted by favorable market performance across most asset sectors.

Highlights from 2023 include:

  • Distribution of $25.0 million paid in March 2023 to members of record at December 31, 2022.
  • Policyholders’ Surplus of $1.2 billion, an increase of $26.7 million or 2.3% for the quarter.
  • Combined ratio of 123.8% for the first three months 2023 as compared to 154.3% for the same period prior year.
  • Membership retention of 99% was achieved in the first three months of 2023.

EIM’s return on investments of 2.85% compared to a benchmark return of 3.28%, lagging the benchmark from a value versus growth bias. The return is a result of gains on international equities of 7.63%, US equities of 4.38%, fixed income securities of 2.58% and alternative investment securities of 0.56%

Corporate Governance

Board of Directors

  • Brian B. Bird, President and Chief Executive Officer, NorthWestern Energy

    Brian B. Bird

    President and Chief Executive Officer
    NorthWestern Energy

  • G. Thomas Bolton, III President and Chief Executive Officer Energy Insurance Mutual Limited

    G. Thomas Bolton, III

    President and Chief Executive Officer
    Energy Insurance Mutual Limited

  • Marcus V. Brown - Executive Vice President and General Counsel

    Marcus V. Brown

    Executive Vice President and General Counsel
    Entergy Corporation

  • Trevor A. Carmichael Barrister at Law Barbados Counsel

    Trevor A. Carmichael

    Barrister at Law
    Barbados Counsel

  • Benjamin G. S. Fowke, III Chairman and Chief Executive Officer (retired) Xcel Energy Inc.

    Benjamin G. S. Fowke, III

    Chairman and Chief Executive Officer (retired)
    Xcel Energy Inc.

  • Kodwo Ghartey-Tagoe Executive Vice President, Chief Legal Officer and Corporate Secretary Duke Energy

    Kodwo Ghartey-Tagoe

    Executive Vice President, Chief Legal Officer and Corporate Secretary
    Duke Energy

  • Martin J. Lyons, Jr. President and Chief Executive Officer Ameren

    Martin J. Lyons, Jr.

    President and Chief Executive Officer
    Ameren

  • Carter M. Reid Executive Vice President, Chief of Staff and Corporate Secretary and President-Dominion Energy Services Dominion Energy, Inc.

    Carter M. Reid

    Executive Vice President, Chief of Staff and Corporate Secretary and President-Dominion Energy Services
    Dominion Energy, Inc.

  • M. Bridget Reidy Executive Vice President, Corporate Operations, Exelon BSC Exelon Corporation

    M. Bridget Reidy

    Executive Vice President, Corporate Operations, Exelon BSC
    Exelon Corporation

  • Amanda Rome, Executive Vice President, Chief Legal and Compliance Officer, Xcel Energy

    Amanda Rome

    Executive Vice President, Chief Legal and Compliance Officer
    Xcel Energy

  • Dan S. Tucker, Executive Vice President and Chief Financial Officer, Southern Company

    Dan S. Tucker

    Executive Vice President and Chief Financial Officer
    Southern Company

  • Rudolph L. Wynter President, National Grid New York National Grid

    Rudolph L. Wynter

    President, National Grid New York
    National Grid

Officers

Marcus V. Brown, Entergy Corporation
Chair

M. Bridget Reidy, Exelon Corporation
Vice-Chair

G. Thomas Bolton, III
President and Chief Executive Officer

Jill C. Dominguez
Vice President - Chief Underwriting Officer

Jeffrey M. Tkacz
Vice President - Chief Financial Officer

Ann M. Joslin
Vice President - Claims

Kevin R. Wolff
Vice President, General Counsel and Corporate Secretary

Trevor A. Carmichael
Assistant Corporate Secretary

Leadership

Tommy Bolton

President and Chief Executive Officer

Jill Dominguez

Vice President - Chief Underwriting Officer

Jeff Tkacz

Vice President - Chief Financial Officer

Kevin Wolff

Vice President, General Counsel and Corporate Secretary

Ann Joslin

Vice President – Claims Department

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.