Corporate & Financial Information

Current Financials

Corporate Governance

Annual Reports

Leadership

Members' Reports

Enterprise Risk Mgmt.

Current Financials

3rd Quarter 2022 Financial Commentary

Energy Insurance Mutual Limited (“EIM”) recorded a loss on surplus of ($143.7) million for the nine months ended September 30, 2022 driven by investment market volatility. This is compared to a gain of $59.0 million for the same period in 2021. EIM recorded income from underwriting of $44.2 million compared to a loss of ($0.2) million in the prior year.

EIM saw an improvement on its net loss ratio, currently 73.7% for the nine months ended September 30, 2022, steadily decreasing over the last three years and more in line with budget.

EIM had an investment loss of ($230.4) million from unrealized market losses for the first nine months of 2022 compared to income of $71.3 million for the same period in 2021. Current year investment results were impacted by unfavorable market performance across most asset sectors.

Highlights from 2022 include:

  • Distribution of $50.0 million paid in March 2022 to members of record at December 31, 2021.
  • Policyholders’ Surplus of $1.1 billion, a decrease of $143.7 million or (11.5%) for the year.
  • Combined ratio of 78.9% for the first nine months 2022 as compared to 100.1% for the same period prior year.
  • Membership retention of 99% was achieved in the first nine months of 2022.

EIM’s return on investments of (12.00%) compared to a benchmark return of (12.00%). The return is a result of losses on US equities of (21.76%), international equities of (27.35%), fixed income securities of (10.27%) and slightly offset by gains on alternative investment securities of 0.56%, lead by strong returns on our real estate investments.

While the first nine months of 2022 saw a 12% negative investment return driven by a drop in equity markets and fixed income securities, EIM remains confident, based on the diversity and allocation of its investment portfolio, that the long-term investment returns are on track and achievable, with 10-year average above 4%.

Corporate Governance

Board of Directors

  • 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

  • James R. Hatfield Executive Vice President & Chief Administrative Officer (retired) Pinnacle West Capital Corporation/APS

    James R. Hatfield

    Executive Vice President & Chief Administrative Officer (retired)
    Pinnacle West Capital Corporation/APS

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

    Martin J. Lyons, Jr.

    President and Chief Executive Officer
    Ameren

  • David E. Meador Vice Chairman and Chief Administrative Officer (retired) DTE Energy

    David E. Meador

    Vice Chairman and Chief Administrative Officer (retired)
    DTE Energy

  • 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

  • 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

Carter M. Reid, Dominion Resources, Inc.
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 TVaR 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.