Corporate & Financial Information

Current Financials

Corporate Governance

Annual Reports

Leadership

Members' Reports

Enterprise Risk Mgmt.

Current Financials

4th Quarter 2023 Financial Commentary

Energy Insurance Mutual Limited (“EIM”) recorded a gain on surplus of $86.0 million for the year ended December 31, 2023 driven by investment market performance partially offset by unfavorable claims development.  This is compared to a loss of ($99.9) million for 2022.

EIM’s investment income totaled $175.1 million for the year ended 2023 compared to a loss of ($152.7) million for 2022. Prior year investment results were impacted by unfavorable market performance across most asset sectors. EIM incurred a loss from underwriting of ($70.0) million compared to income of $46.4 million in the prior year.

Highlights from 2023 include:

  • Policyholders’ Surplus of $1.2 billion, an increase of $86.0 million or 7.5% for the year.
  • Combined ratio of 123.3% for the year ended 2023 as compared to 83.8% for the same period prior year, driven by unfavorable development of claims in prior year and higher than expected current year losses.
  • Membership retention of 98% was achieved.

EIM’s investment portfolio returned 8.51% for 2023. The return is a result of gains on US equities of 20.75%, international equities of 18.69%, fixed income securities of 5.59% and alternative investment securities of 4.03%.

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

  • Carmichael_Giles_2024

    Giles Carmichael

    Chancery Chambers, Partner

  • 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

  • Jeanne Jones

    Jeanne Jones

    Executive Vice President and Chief Financial Officer
    Exelon Corporation

  • 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 (retired)
    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 (retired)
    Exelon Corporation

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

    Amanda Rome

    Executive Vice President, Group President - Utilities, Chief Customer Officer
    Xcel Energy Inc.

  • Peggy Simmons

    Peggy Simmons

    Executive Vice President – Utilities
    AEP (American Electric Power)

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

    Dan S. Tucker

    Executive Vice President and Chief Financial Officer
    Southern Company

Officers

Marcus V. Brown, Entergy Corporation
Chair

Martin J. Lyons, Jr., Ameren
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

Jeffrey M. Tkacz
Vice President – Chief Financial Officer

Kevin R. Wolff
Vice President – General Counsel and 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

Cindy Dobbins

Vice President – Chief Claims Officer

Tanner McAndrew

Vice President – Risk Management and Corporate Strategy

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.